During the first fiscal quarter of 2021, GameStop sold 3,500,000 shares of new common stock. GameStop intended to use the $551.7million in net proceeds (net of $5 million of issuance costs) generated from the offering for several purposes, including repayment of existing long term debt.

Below is a debt disclosure is from GameStop's first quarter Form 10-Q:

6. Debt The carrying value of our debt is comprised as follows (in millions): May 1, May 2. 2021 2020 January 30, 2021 Revolving credit facility due 2022 $ 135.0 $ 25.0 French term loans due 2021(7) 48.1 48.6 2021 Senior Notes principal amount 418.4 73.2 2023 Senior Notes principal amount 216.4 Less: Senior Notes unamortized debt financing costs (1.2) (0.5) Total debt, net $ 48.1 $ 552.2 $ 362.7 Less: short-term debt and current portion of long-term debt?) (48.1) (552.2) (146.7) Long-term debt, net $ $ 216.0 (1) These term loans are government subsidized low interest loans that may be extended, subject to specified conditions, for up to five additional years at Micromania SAS's request. (2) Current period include the French term loans due July 2021 and October 2021. Prior periods include advances under the revolving credit facility due November 2022, the French term loans due July 2021 and October 2021 and the 2021 Senior Notes, net of the associated unamortized debt financing costs. 2021 Debt Payments On March 15, 2021, we repaid at maturity $73.2 million outstanding principal amount of our 2021 Senior Notes. On April 30, 2021, we completed the voluntary early redemption of $216.4 million outstanding principal amount of our 2023 Senior Notes. This voluntary early redemption covered the entire amount of then outstanding 2023 Senior Notes, which represented all of our long-term debt. In connection with the voluntary early redemption of our 2023 Senior Notes, we paid approximately $219.1 million in aggregate consideration, including accrued and unpaid interest. In connection with the voluntary early redemption of the 2023 Senior Notes, we paid a $17.8 million make-whole premium which is included in interest expense in our consolidated statements of operations. Additionally, we accelerated amortization of $0.4 million deferred financing costs associated with our 2023 Senior Notes