GameStop to Exchange and Cancel $1.4 Billion in Convertible Notes

06:36 AM EDT, 08/31/2026 (MT Newswires) -- GameStop (GME) said Monday that it agreed to amend several agreements with existing holders to exchange and cancel about $1.4 billion in 0% convertible senior notes due 2030 and 0% convertible senior notes due 2032. The company said that existing noteholders will receive 55.5 million common shares and $358.4 million in cash, expected to be funded from cash on hand. On closing, about $1.1 billion of 0% convertible senior notes due 2030 and $1.7 billion of 0% convertible senior notes due 2032 will remain outstanding, GameStop said. The deals are expected to close on Thursday, the company added. Shares of the company were down 0.4% in Monday's premarket activity.