GameStop Looks to Become Debt-Free With Early Debt Retirement Plan

Rich Duprey, The Motley Fool
·2-min read
GameStop Looks to Become Debt-Free With Early Debt Retirement Plan

GameStop (NYSE: GME) ended 2020 with $216 million in long-term debt. GameStop said it was voluntarily issuing an irrevocable notice of redemption on April 30 for $216.4 million of its 10% senior notes that were due in 2023. While GameStop's fiscal 2020 year ended at the end of January with almost $509 million in cash and equivalents in the bank, earlier this month it increased the size of a share offering to 3.5 million shares at market prices.