moonape

GME & Bitcoin

[bad robot ventures @foxenflask]

https://t.co/zWMyxwNbbl

[bad robot ventures @foxenflask]

Getting a lot of questions and requests on breaking down the $GME x $EBAY transaction in clearer detail. So here is an attempt.

"Rolling equity" means that instead of cashing out their eBay shares for money, eBay shareholders convert (roll) their existing ownership into shares of the new combined company (ComboCo = eBay + GameStop merged entity).

Here's the practical breakdown:

RC is not buying 100% of eBay outright, since that would require paying the full ~$56B market cap in cash, which he can't do.

Instead, he pays $28B in cash to eBay shareholders who want to exit (the 50% cash consideration at $125/share).

The other 50% of eBay shareholders don't get paid out - instead, they simply keep an ownership stake, but now their stake is in the new combined GME + eBay entity rather than standalone eBay.

Why would eBay shareholders agree to this?

RC's pitch is that the combined entity will be worth more than standalone eBay because:

He'll cut $2.5B+ in operating costs, dramatically increasing earnings.

GME's capital and "owner mentality" management creates upside.

He will increase earnings separate from that with growth initiatives, like live-shopping and new combined infrastructure for boosting collectibles even further.

The key distinction and thing confusing people is that this is not a full buyout, it's a partial cash tender + equity merger. eBay shareholders who roll equity become co-owners of the combined company alongside GME shareholders, just at a reduced percentage (60% vs the 80% they'd have in a pure stock-for-stock deal). The "roll" is essentially the mechanism that makes the deal financeable - RC only needs to fund the cash half, not the entire acquisition.

Hope this makes sense.

[moonape @moonape741]

@TheUltimator5 Maybe war between USA/Isreal and Iran is coming?

[Carl ₿ MENGER ⚡️🇸🇻 @CarlBMenger]

Take the orange pill, Bro. #Bitcoin

[moonape @moonape741]

@ThePPseedsShow @TheUltimator5 What do you think is the reason for doing it at the same date as GME?

[moonape @moonape741]

@TheUltimator5 24.44 MMA

[moonape @moonape741]

@TheUltimator5 24.20

[Instinct 🏴‍☠️ @Instinct1868]

🚀Project Rocket GameStop Hype Video🚀
#GameStop #GME $GME @TheRoaringKitty

[prayingforexits 🏴‍☠️ @mrexits]

Naval on getting what you want out of life

[moonape @moonape741]

@Rumblurrr @larryvc Even Trump and Musk ain't doing anything about this... atleast not yet

[moonape @moonape741]

@crynetio @KobeissiLetter When did GME do that?

[moonape @moonape741]

@shortdestroyer @ryancohen What did he do?

[moonape @moonape741]

@boobus2988 @KobeissiLetter

[X Market News🚨 @xMarketNews]

BREAKING🚨 Billion-Dollar Hedge Fund Caught ‘Naked Short Selling’ Over 10 Million Shares

- Anson Funds reportedly has an outstanding 10 million ‘naked short shares’ with Next Bridge Hydrocarbons and sought to purchase the shares back for nearly $3,000,000 $MMTLP

[Tiffany Cianci @TheVinoMom]

🚨 THE NEXT 2008 IS HAPPENING NOW 🚨

Party City. Joann’s. Forever 21. Big Lots. ALL COLLAPSING.

But this isn’t just “retail struggling.” This is financial arson.

Private equity rigged the system. They built a time bomb. And now? It’s detonating.

A MEGATHREAD: 🧵⬇️

[Susanne Trimbath PhD @SusanneTrimbath]

From R. Karmel (1980), NYSE definition of "fair" & "orderly":

[ringingbells @u_ringingbells]

Not even a joke. This is the Actual Law.

[Roberto Rios @peruvian_bull]

GameStop has literally no debt and has been FCF positive the last two quarters

Literally 30 seconds of research on Yahoo Finance will tell you that @nypost

Stop lying

[ringingbells @u_ringingbells]

Securities Exchange Commission ( SEC )
Reformer Replacement Team

1. Patrick Byrne
2. Dennis Kelleher
3. Caitlin Long
4. James (Wes) Christian
5. Haim Bodek

@DOGE_SEC Clean House & Install This Team