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Video game retailer GameStop Corporation (GME) has completed a convertible debt offering that raised $1.5 billion, part of which was allocated for purchasing Bitcoin.

The offering was initially planned to raise at least $1.3 billion, but according to GameStop's filing with the Securities and Exchange Commission on April 1, buyers preferred to acquire bonds with an additional principal amount of $200 million.

GameStop added, "The company expects to use the net proceeds from the offering for general corporate purposes, including the purchase of Bitcoin, in a manner consistent with the company's investment policy."

Convertible bonds are debts that can later be converted into equity and will mature on April 1, 2030, unless they are converted, redeemed, or repurchased prior to that date.

According to the filing, the conversion rate for the bonds will initially be 33 shares of common stock for each $1,000 principal amount of the bond.

GameStop shares did not see significant movement following the closing of the convertible debt offering. GME closed the trading day on April 1 at $22.61, up 1.34%, and saw only an additional 0.5% increase after the bell, according to Google Finance data.