GameStop stock climbed 4% on Monday after the company paid $358.4 million in cash to freeze new share issuance at 55.5 million shares, representing roughly 12% of its capital. This deal swaps $1.4 billion in zero-coupon convertible debt, with noteholders receiving 73% in shares and 27% in cash. The agreement retires only a third of the debt, leaving $2.8 billion on the balance sheet. Sales slipped to $780-800 million from $972.2 million, and GME still trades 14% below its late July close despite operating margin jumping to 20%.
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