US Stock Market Move | GameStop Corp. Class A (GME.US) fell nearly 4%, planning to issue $1.3 billion zero-coupon convertible preferred notes.

On Monday, GameStop Corp. Class A (GME.US) fell nearly 4%, to $20.90. In terms of news, GameStop Corp. Class A recently announced plans to issue $1.3 billion of non-interest bearing convertible senior notes due 2030 in a private placement. Additionally, the company stated that it will allow initial purchasers to buy up to $200 million in principal amount of the notes. The company expects to use the net proceeds from this offering for general corporate purposes, including acquiring Bitcoin in a manner consistent with its investment policy.