GameStop ticks down after convertible bond sale hiked to $2.25 bln

Shares of video-game retailer GameStop GME.N down 0.2% at $22.10 before the bell after above-target capital raise

Grapevine, Texas-based co late Thurs announced pricing offering of $2.25 bln 0% 7-yr convertible bonds

GME shares closed down 22.5% at $22.14 on Thurs, shedding about $3 bln in market cap, after co late Weds launched $1.75 bln offering

Initial conversion price set at $28.91, which represents 32.5% premium to stock's VWAP (volume-weighted average price) from 1:00 p.m through 4:00 p.m. ET on Thurs

Co says to use net proceeds for general purposes, including making investments in "a manner consistent with GameStop's Investment Policy" and potential acquisitions

With ~447.3 mln shares outstanding, co has $9.9 bln market cap

GME shares fell ~5% on Weds after co reported qtrly rev decline as consumers increasingly favor digital downloads over purchases at its brick-and-mortar stores

Co bought 4,710 bitcoins between May 3-June 10, after first disclosing the purchase on May 28

In Mar, co said its board approved addition of bitcoin as a treasury reserve asset, mimicking the playbook of Strategy MSTR.O

Through Thurs close, GME shares down ~29% YTD