GameStop Corp. today issued notice of redemption to redeem $216.4 million in principal amount of its 10.0% Senior Notes due 2023 on April 30, 2021. This voluntary early redemption covers the entire amount of the outstanding Notes.
Notes will be redeemed by the company using cash on hand, at a redemption price of 100% of their principal amount, plus accrued and unpaid interest up to, but excluding, the redemption date of April 30, 2021, plus the applicable premium due to holders of the Notes in connection with an early redemption.
declare dividends, make payments or redeem or repurchase capital stock or make distributions in respect of capital stock;
make loans and certain investments;
sell assets;
engage in mergers, acquisitions and other business combinations.
With long-term debt to be eliminated by the end of this month (April 2021), GameStop will be free to declare dividends, repurchase stock, make loans, sell assets, engage in mergers and acquisitions, and more. This action enables the company to remain flexible while undergoing the transformation.
Ryan Cohen is holding the receipt, and the presumed customer is holding a stack of several gift cards. It’s impossible to discern what’s in the bags, but they look to have decently sized toys or consoles in them judging by the tension on the fabric. The young gamer appears to be holding a foam Minecraft diamond sword, available exclusively at GameStop.
Like psycho girlfriends, GameStop investors immediately began speculating what Ryan was doing in Culver City, California, when he lives in Miami, Florida.
It could be any number of these speculations, or even none at all. Culver City is in the heart of Los Angeles county, and with so many surrounding businesses, Ryan Cohen could have been in town for a number of reasons.
What we can tell though, is that Ryan Cohen looks to have picked up the tab for some shoppers and we’re glad to see him checking out GameStop brick-and-mortar stores for himself. Let us know what theories wrinkled your brain in the comments.
GameStop Corp is looking for a new chief executive to replace George Sherman as it pivots from being a brick-and-mortar video game retailer to an e-commerce firm, three people familiar with the matter told Reuters on Monday.
GameStop’s board is working with an executive headhunter on the CEO search, the sources said, requesting anonymity because the matter is confidential.
12 April 2021 6:00PM Editorial Update: In a batch of new job listings shared by GameStop on LinkedIn, the company seeks to hire an Executive Administrative Assistant.
Listed among the Essential Job Duties and Responsibilities:
Assist in coordinating annual store manager’s conference, as well as all other meetings or events, as requested by the CEO and/or President.
This is incredibly out of the ordinary for a company with a departing Chief Executive Officer.
While GameStop investors still have not been provided a strategic roadmap, LinkedIn has become the next best resource for an inside look on management’s path forward.
If you are a top-tier Software Engineer who knows how to build systems that scale, can deliver experiences that delight customers, and who wants to contribute to a transformation that will be studied in every business school for the next decade, I want to hear from you.
The continued emphasis on delighting customers is present here, but more notably is his choice of language toward the transformation.
Matt Francis, GameStop’s CTO, states that the transformation will be studied in every business school for the next decade.
The post was also shared by Robert Loewenbein, who served as the Associate Director of Customer Service at Chewy, after working for Chewy from February 2014 to November 2020, almost seven years.
Robert’s LinkedIn reveals that in March 2021 he was hired as Director of Continuous Improvement for GameStop, to work under the SVP of Customer Service Kelli Durkin, also from Chewy.
Robert Loewenbein goes on to thank Kelli Durkin for her customer service mentoring, stating that “Customers/guests are NEVER a problem.”
The Analyst, Security is responsible for monitoring and maintaining data and platform confidentiality, integrity and availability in an enterprise environment.
GameStop Career’s Job Listing from April 8th, 2021.
Listed under Additional Skills and Experience, GameStop asks that applicants have experience in:
Blockchain, cryptocurrency, or non-fungible tokens
Machine learning or artificial intelligence
eCommerce
Cloud platforms (AWS, Azure, GCP)
eSports or competitive gaming
What could GameStop be building?
Any sort of NFT announcements, or even rumors, now result in massive catalysts for public companies. It is likely that Ryan Cohen knows this, and is possibly looking into the roles GameStop could play in this emerging industry.
Several weeks ago, stock market analyst and acclaimed author Tony Ozpublished a video detailing what effect he believes a GameStop NFT announcement would have on the stock price. This is pure speculation, so take it with a grain of salt, but investors may deem it worth a watch.
Luckily, we don’t feel the need to delve too deep into this one. It’s a pun on the term “chairman,” if your smooth brain didn’t quite get it yet.
GMEdd’s deep research has tracked down the original, which was a print advert for Berlitz, a japanese owned language education firm, titled “Happy Hour,” linked here: adforum.com.
