GameStop has agreed to swap $1.4 billion of zero-coupon convertible notes for stock, a deal that would retire about one-third of the note principal if it closes. The 35-consecutive-trading-day volume-weighted average price period began Aug. 3, 2026, with closing expected around Sept. 23, 2026, though final shareholder dilution will remain unknown until a later filing. The company disclosed that 4,709 of its 4,710 BTC were pledged to Coinbase Credit under a covered-call strategy, representing approximately $300.65 million at the May 2, 2026 Bitcoin price. Investors are still waiting for disclosure of the final share count to be issued in the note exchange and the current amount of Bitcoin pledged under the renewed options strategy.
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