overdemand

GameStop (GME) issued a total of approximately 59 million warrants in a special dividend distributed on October 7, 2025. Of this total, approximately 45 million warrants were distributed to shareholders, and approximately 14 million warrants were distributed to holders of the company's Convertible Senior Notes due 2030 and 2032.1

The distribution involved shareholders receiving one warrant for every ten shares of common stock held as of the record date of October 3, 2025.2 Convertible noteholders also received warrants based on an "as converted" to common stock basis, with specific ratios for the 2030 and 2032 notes.2 Each warrant provides the holder the right to purchase one share of common stock at an exercise price of $32.00, with an expiration date of October 30, 2026.2 If all warrants are exercised, GameStop anticipates generating approximately $1.9 billion in gross proceeds.2