GameStop stock rises 4% after $358M cash payment limits share dilution in note exchange deal.

GameStop's stock climbed 4% following an amendment to its convertible note exchange, which now includes a $358 million cash payment to cap share dilution. The revised deal fixes the total share count by paying 27% of the consideration in cash and 73% in shares, removing uncertainty about dilution. Preliminary Q2 results show a net income boost mainly from a $238 million gain on its eBay investment, despite lower sales due to store closures and divestitures. Investors should watch for the exchange closing around September 3 and full Q2 results on September 8, noting that the profit gain is largely investment-driven rather than from retail operations.