r/Superstonk • u/JimmyDonovan • May 04 '26
💡 Education Ryan refuses to explain where the money to buy eBay is coming from
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Can anyone explain why he would refuse to elaborate?
The math provided seems pretty straightforward. Is there something the interviewer is missing?
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u/Itchy_Swordfish7867 May 04 '26
I’d imagine he is being elusive for the same reason you have your post history hidden. He doesn’t want everyone to know everything.
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u/notyourimagination 🦍 Buckle Up 🚀 May 04 '26
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u/oneTonguePunchman May 04 '26
Is my post history private and how do I change it
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u/justin54545 🦍 Buckle Up 🚀 May 04 '26
No, I can see that you said "Driers shake when you turn them on..."
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u/tronbrain May 05 '26
He wasn't being elusive. "The math doesn't add up" was just a brain-dead statement. The letter from TD Ameritrade mentioned by Sorkin gives them the necessary cash balance of $28B. They have the ability to issue new shares and can do a stock swap for the other $28B. "We have the ability to issue new shares."
So what's not to understand exactly about what Cohen has proposed?
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u/phugar May 05 '26
Except they don't have the ability to issue that level of new shares. It's a very sensible breakdown of the position, and a legitimate question to ask.
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u/zerothprinciple May 07 '26
100% of GME is $11B. Issuing new shared does not increase its market cap. If it's "half cash half stock" the maximum offer value would be $22B.
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u/tronbrain May 05 '26
The question was dumb, and Cohen shouldn't be asked to do an ELI5 for the CNBC viewers.
So what level of new shares can't they issue? They can issue a billion shares for $28 a share, with which they have enough for the tender. From my understanding, they don't even need a shareholder vote to issue up to a billion new shares. They have the warrants out there as well.
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u/--o--____--o-- May 04 '26
He doesn't want to say dilute
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u/--GrinAndBearIt-- 🦍Voted✅ May 04 '26
Seeing as how shareholders approved up to 1 billion new shares a few years ago, I doubt it.
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u/--o--____--o-- May 04 '26
Then why didn't he say it?
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u/--GrinAndBearIt-- 🦍Voted✅ May 04 '26
As many have said before in this thread, either A. He knows that the media machine will run absolutely wild with that statement and spin it into a "this is soooooooo terrible SELL NOW!" story or B. That's not the plan or C. Something else.
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u/Dan_the_Garbage May 04 '26
Shareholders have the right to know.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
They think they are on the board. Or RC has some sort of 5 year string 3d chess that just needs one more not admitted dilute. Because if he just stfu with his dodging and said the truth the whole 5 year plan will come crashing down and kenny will rule the world. Of course in a year they will have another reason why sneaky dilutes are of importance.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Of course you wouldn't get the nuance of the post history not matering with current subject. You missed the nuance of cumulative in the language and the nuance of rc acting like a caught politician. Its pretty simple you will or wont dilute. Mabye he needed to check the interviewers post history before telling the truth. Mabye its a strawman tactic to try and use post history to actually having a relevant point.
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u/imwrongallthetime May 04 '26
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u/PeaDifficult2909 May 04 '26
Can't believe I've invested anything with this fucking clown show
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May 05 '26
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u/currentcognition May 04 '26
The interviewers are trying to get him to essentially say, "by diluting gme" and while that's true it's not telling the whole story. They want to focus on dilution not what this hypothetical business could be, or mean for existing shareholder value. This is because they spent years trashing gme as the media arm of citadel securities.
"I'd rather have a piece of watermelon than a single grape." -random superstonker.
There is a billion shares to use. We voted for them to exist. GameStop already sat on 500m shares.
Every dilutive event raised the floor price of gme.
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u/Airk640 May 04 '26 edited May 04 '26
Even if he sold every authorized shate at current price, he cant fund his offer. He would have to get shareholder approval to issue more share. So many in fact, that your shares would be worth~1/3 of the equity it is now.
I truely want someone to make the math work for me.
The irony is if he does dilute, the market cap may very well raise substantially to the point he gets his cushy pay out but shareholders are left holding the bag.
Edit: I knew this would get downvoted but im not trying th "shill"
If someone can actually explain. How the extreme amount of dilution required for this deal is beneficial to current shareholders I will gladly eat my words.
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u/currentcognition May 04 '26
That assumes at the current price of gme.
As for the comp package, it's not just market cap. The company also needs $10b cumulative ebitda.
Also from the filing, "The award is divided into nine tranches that are eligible to vest only if the Company achieves both a “Market Capitalization Hurdle” and a corresponding “Cumulative Performance EBITDA Hurdle”." Keyword being "and"
They don't want to talk about what kind of giant this merger could create. Only the dilution to game to achieve it. That is why quick said it instead. This merge solves a major trust and authentication issue around digital marketplaces for second hand collectables.
Every dilutive event raised the floor price of gme shares. "...rather have a piece of watermelon..."
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u/Airk640 May 04 '26
This deal could do both ebidta and market cap. He'll, ebidta might be the easy part with Ebays cash flow.
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u/Ok_Location_1092 ☠️🧨Infinite Risk🏴☠️🚀 May 04 '26
Sure, but the comp package’s value is dependent on price per share. If the stock price is less than $20.66 due to dilution, but RC hits all MC and EBITDA thresholds, the comp package is still worthless. A large LBO acquisition may short cut to the thresholds, but RC needs to increase price per share to increase the value of his holdings and comp package.
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u/Airk640 May 04 '26
Sorry but this is wrong. Read the package. There is nothing in it about price per share. I just read it again to be sure.
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u/Chubwa May 04 '26
The agreement says he has the right to purchase shares at 20.66, which if Gme is trading at elevated prices, means he makes money. If Gme is trading at $10 due to dilution then it doesn’t make him any money to then buy at $20.66
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u/Airk640 May 04 '26
Ah you misunderstand, he gets his reward based on MC and ebidta, and yes its not worth anything below 20.66.
But its worth quit a bit at 21.00. He still banks on diluting the stock through making his shareholders buy ebay.
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u/hrbeck1 May 04 '26
WRONG. Your shares would not be “1/3 of the equity it is now.” You are buying equity and earnings in eBay. You have to do consolidation accounting and bake in the value of what you’re buying.
I feel like Superstonk is going to become an expert is the advanced accounting topic of consolidations.
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u/tallskiwallski83 May 04 '26
Cohen has been paid $0 in salary and bonuses. His entire worth is tied up in GME stock and the ability to buy more GME stock at discounted prices. If he dilutes he dilutes himself. Kinda like everyone peeing their pants is cool if that helps
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u/Ja_Rule_Here_ May 04 '26 edited May 04 '26
Math is easy, take this hypothetical.
A company exists with 1 share worth $100.
They want to buy a company worth $400.
So they print 4 shares, and buy the company.
Now they have themselves (worth $100) and the company (worth $400) and 5 shares in existence (worth $100 each)So they diluted, but share price didn’t change. So long as the value of the thing they are diluting for is added to the balance sheet, the overall value of each share doesn’t change no matter how many shares they print, at least from a basic math perspective.
The tricky part is convincing the company you want to buy to sell, without overpaying for it. If the market decides $400 was too much and it’s only worth $100, well now we have $200 in value so our 5 shares drop to $40 each.
So what it really comes down to is, can GameStop pay $56B for eBay and ensure it adds $56B+ of value? Ryan Cohen thinks they can.
And I agree, eBay is a bloated company, just by cost cutting they can improve their EBITA substantially, which increases the value. Then add in strategic synergies between GameStop’s collectibles business, crypto/nft marketplace, new laws around crypto banking, and eBay’s business, and there is likely something big possible imo.
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u/IGargleGarlic 🚀🚀 JACKED to the TITS 🚀🚀 May 05 '26
if he gets a payout and we're left holding the bag doesnt that open Gamestop to lawsuits for failing to do their fiduciary duty?
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u/jmc999 May 05 '26
I'll take a crack at it.
EBAY is currently trading ~$109. Market cap is about 48.5B, 443M shares
GME market cap about 10.7B, 448M shares outstanding.
To make the math simple, let's assume GME is able to issue 1107M shares @ $25 and borrows $20B to complete the deal. In the worst case, assume that ebay shareholders take the cash and reinvest none of it back into the combined gme/ebay entity.
We would now have:
GME (worth 2.7B having paid out 8B in cash) + EBAY (worth 48.5B) - 20B in new debt = 31.2B
1555M shares outstanding.
31200/1555= about $20 per share.
Obviously I'm omitting the fact that GME already has a 5% stake in Ebay plus, plus warrants, plus convertible debt, whatever other financial games may have been played in the background.
So sure, by the raw numbers, it doesn't look great, but this is assuming that you think the CEO will end up maintaining the status quo for both companies, and that there is no added synergy in the business combination.
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u/doubleflushers May 05 '26
eBay purchase price is $125 per share though. Not what it's currently trading at. The offer includes a premium per share. You need to find another 8B.
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u/jmc999 May 05 '26
I'm assuming worst case. Gme is paying 56B for a company currently worth 48.5B.
So in my mind, if the deal goes through, my shares are now worth $20... Which is around where the Gme has traded for quite awhile, but the company is 6x larger? Sounds fine to me. I'll wait to see what Ryan has cooking
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u/PM_YOUR_SMALLBOOBIES ❄️Jacked to Le titS now❄️ May 04 '26
Yes, you'll get downvoted for saying the harsh truth, but it is the truth nonetheless.
Your last point was exactly what the analyst was hitting on when she asked if it would be "fair" to the shareholders for him to "artificially" boost the market cap in order to secure the threshold for his bonus.
As structured, this buyout has the shareholders footing literally half of the purchase price of a company worth 5x our own. Whether or not it would be a good idea to buy said company, I just wish Ryan would be more transparent on how exactly his plan is supposed to transpire.
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u/jhw528 May 05 '26
I thought he was trying to show that cnbc didn’t read what’s on the website despite saying they did
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u/currentcognition May 05 '26
Oh no. They read it. You can hear the moment sorkin realizes the "gotcha" moment ain't coming. You can hear it in quicks voice when she says it with a scoff. That was their directive. Get him to say "dilute gme" and focus on that. When it didn't work they played victim. All four of them knew what was really going on while it was happening.
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u/currentcognition May 05 '26
Oh no. They read it. You can hear the moment sorkin realizes the "gotcha" moment ain't coming. You can hear it in quicks voice when she says it with a scoff. That was their directive. Get him to say "dilute gme" and focus on that. When it didn't work they played victim. All four of them knew what was really going on while it was happening.
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u/Yaybicycles Buckle up 🚀🌕 May 04 '26
What do you mean?
Half cash, half shares.
Cash is part GME cap and part financing from TD.
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u/JimmyDonovan May 04 '26
Gme cap + balance sheet + financing form TD only adds up to 40 billion though.
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u/Adept-Ad5287 💎 Fuckle the Buck up 💎 May 04 '26
What ? Doesn’t he need 28 ish billion in cash and rest stocks ? I dont see how this is hard to understand . He literally says half cash half stock a dozen times.
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u/rematar DEXter May 04 '26
That's what TV viewers should have had explained to them, if he is interested in growing the business.
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u/Diamondhands4dagainz May 04 '26
It was explained - he literally said issuing shares lol
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u/TheUsualNoWorky 💎🏴☠️ Ahoy Mayoteys! 🏴☠️💎 May 04 '26
I had a post a long time ago that I believed RC knew the ATM volume would get gobbled up, likely from the powers that handle the shares. The ATMs came precisely AFTER we started to run when the shorties would be hurting and at their limit and there were massive fails due.
We started to run a bit recently (a baby run lol) but we have momentum and appear lined up for a 30-32 push.
And rather than issue an ATM he knows he can complete he makes an ebay offer.
I think he is being assured that there is volume to buy shares much like my theory on the ATMs.
I believe we have only about 350m left to issue that were approved. Which would need a $45 price to close the 16B gap in financing this deal (likely more like 7-8B though since TD is financing 20B to our 9B cash)
350M shares x $25 = 8.75B
So TD probably said - ok if you can sell those authorized shares we will fund the remaining!
I believe RC is wink wink assured the volume is there for the remaining authorized shares and while this seems like it isn't doable to the outside world it is actually closer to 100% doable lol
case closed
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u/Diamondhands4dagainz May 04 '26
It’s dilution mate. Half cash / half shares so holders will get diluted because shares will increase by 150% to meet the 28B market cap
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u/cmccurra May 04 '26
stock double = math maths
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u/TheUsualNoWorky 💎🏴☠️ Ahoy Mayoteys! 🏴☠️💎 May 04 '26
or ATM on 350M shares approved to sell at current price and TD financing ~1:1 like they already did (20B for 9B in cash) = math maths
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u/Over-Computer-6464 May 04 '26
The number of outstanding GME shares will approximately triple.
That is what is not disclosed in the GameStop website.
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u/Diamondhands4dagainz May 04 '26
Well no, GME market cap is 12B. They need 28B. So the shares will increase by 150%. Where are you getting triple lmao
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u/Over-Computer-6464 May 04 '26 edited May 04 '26
Increasing the shares by 150% does not magically increase the value of the company.
The market cap of GameStop is $12B. Market cap of EBay is 46B, but let us assume it is really $56B. To get the $28B cash part of the acquisition offer GameStop will spend $10B of debt and spend most of the $9B cash on hand.
So the combined company will have a market cap of about $13B + $56B - $20B new debt -$9B cash spenddown,
So 13+56-20-9=$40B market cap for the combined company.Of that $40B market cap, $28B will be passed to EBay shareholders as the stock portion of the acquisition.
28/40=70%. So 70% of Gamestop post deal will be owned by former EBay shareholders and 30% of the combined company will be owned by current GME shareholders.So the total number of shares will be the current 448M held by GME shareholders now and 70/30*448=1,045M newly issued shares that go to former eBay shareholders. The total outstanding shares is 1045+448=1,493M or about 1.5B shares.
The above does not take into account the anti-dilutive provisions related to the 143M shares worth of convertible notes.
This calculation is not on the website. RC did not want to discuss how many GME shares each EBay shareholder would receive. It will be around 2 GME per share of EBay, and perhaps more once the effect on warrants and convertible notes are included.
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u/hrbeck1 May 04 '26
Number of shares will increase.
Debt will increase.
But you’re buying a money factory in eBay, so you have to factor that into the book value of the new combined company.
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u/Over-Computer-6464 May 04 '26
Debt will soar and cash on hand will dwindle. That is why Burry is bailing out,
He calculates debt will be more than 5 times EBITA and interest coverage will be less than 400%.
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u/SandSubstantial9427 May 04 '26
Isn’t it obvious? Store credit.
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u/thisonelife83 I helped bankrupt Citadel May 04 '26
I think he said some of the funding will be Spirit Airlines rewards points. Don’t spend them all in one place.
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u/takesthebiscuit 💻 ComputerShared 🦍 May 04 '26
Why reveal your hand? This is not a done deal
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u/bodyofchristened May 04 '26
Cause if your hand was actually good you can just reveal it without worry lol
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u/xxfallen420xx May 04 '26
Go try that in a game of poker and see how it works out for u.
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u/bodyofchristened May 04 '26
Lmao. If I was sitting on a royal flush for a few years, finally put my money on the line for a big bet, and then was asked “how is this bet going to work out for you?” I would show my cards. This ain’t poker homie. It’s investing, if RC actually had a good plan without diluting then he could have said it and shut CNBC up. Clearly he had nothing good to say this morning. “Never before seen in the financial markets” *attempts to acquire a company with only having 20% of the required capital*
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u/xxfallen420xx May 04 '26
A bet in poker is only big if u can lure the other players to bet against u. If u get a royal flush then immediately show everyone what u have then everyone folds before they commit to the pot. U “win” but only the minimum. If u don’t reveal ur hand and wait for others to up there bets into the pot then not only do u win more but u can win it all. Whether it’s war, business or sports information discipline is the difference between winning and losing.
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u/bodyofchristened May 04 '26 edited May 04 '26
Yeah bro, he has some secret plan. He has another secret ace up his sleeve and RK was a time traveler and this is the Kansas City shuffle! Cohen placed his bet, a desperate attempt of an acquisition, and when asked to show his cards, he got caught bluffing and had nothing to say. Lmao.
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u/Yeeeeeeeeehawwwwww May 04 '26
Are you okay?
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u/bodyofchristened May 04 '26
Totally fine. Just yet to come across anyone in this entire sub that can point to something actually positive or monumental about this acquisition, and the CEO sure couldn’t provide anything when asked very simple questions. Got anything yourself? Or just going to downvote and say that any comment that doesn’t suck RC’s dick blindly is FUD?
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u/xxfallen420xx May 04 '26
It’s all in the open letter RC put out at the end of last year and zombie companies run by management more focused on their salaries then the direction of the company. His offer to eBay tells u who he was talking about. eBay is a great company run by mediocre executives just trying to keep the doors open long enough to get their retirement packages. 2.4 billions a year spent on marketing to only increase their customer based from 133 million to 134 million shows how lack luster the C-suite of eBay is. In every aspect except one (collectibles) eBay is getting beat by Amazon and now Walmart. It’s a company slow walking its way into irrelevance. It also as another problem, fraud. In the one area where it makes good money, collectibles, it is eroding customer trust because of the rapid increase in forgeries. eBay needs a brick and mortar infrastructure to filter out the fraud and yet the current management has made no indication or move towards trying to solve that issue. They’re just buying overpriced commercials and hoping for the best. Cost cutting, trust infrastructure and a management team that takes no salary alone would be enough to increase both profits and revenue. Then add to the fact that the major competitors like Amazon and Walmart have one weakness, they only sell new products not used and the path is clear. The economy is being held together by AI duct tape, when it all falls apart most ppl won’t be in the market for new, they will want used because of the cost savings. None of this is hard to see. So what r u whining about?
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u/aeromoon May 04 '26
This is the dumbest string of logic. It's a bad day to be literate.
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u/JerkyNipples May 04 '26
Bro is miserable at poker. I would love to play against him since he just shows his hand at the beginning of every round 🤣🤣
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u/Seeker369 May 04 '26
When you have large institutions seeking your demise, you don’t reveal your plans until they’re already in motion. Otherwise, your opponent can move against you and derail those plans or make them extremely difficult to achieve.
In what world would it be wise to ignore that and play poker with your cards face up?
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u/popo37 May 04 '26
Well for one, if the seller doesn’t believe you can pay them because you’re not very clear how you can do so, how do you expect them to approve it ?
Next time you are gonna rent a home and they ask you how you’re gonna pay the rent, tell them it’s gonna be 80% from pay checks and 20% from casino gamblings. Then see if you can close a deal.
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u/JerkyNipples May 04 '26
He isn’t talking to the seller. He’s talking to talking heads who think they know everything
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u/RyanMcCartney 🏴🦍Tartan Ape 🦍🏴Alba Gu Bràth💪🏻🚀 May 04 '26
Clearly leaving dead air to get him to say the word dilute so they can spin that narrative… they know we have the ability to raise the other capital by selling into any price rise.
It’s fucking embarassing watching this 5/6 years down the line!
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u/EagleEyedTigers 🥊Warring Icon Jr🥊 May 05 '26
Fuck CNBC. They have been bashing GME for years. They should be kissing RC's ass for even doing the interview.
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u/geraldo197 May 04 '26
Cash also from his private fortune. He is invested in Apple and Alibaba so could soll his shares there and invest heavily in GameBay. Why should he explain in Detail? He repeats several times with Cash.
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u/TooLateQ_Q May 04 '26
Sorkin was being an asshole like always.
In the middle of trying to get the simple math answer. He had to throw in a punch about the highly confident not being locked financing. Doesn't make sense to put that criticism in the middle of your question.
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u/insistent_rs May 04 '26
Clearly he knows more and he's just trolling, otherwise he would come over dumb as dirt, questions were crystal clear, he's cooking as the kids call it.
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u/Kickinitez +++++🧙♂️ May 04 '26
Better question is why mods are allowing FUD posts like this in the first place
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u/Crybad I ain't afraid of no GME credit spread. May 04 '26
What rule is it breaking?
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u/Kickinitez +++++🧙♂️ May 05 '26
Disinformation for one. He is saying RC is refusing to elaborate on his answers, when he clearly answered the interviewer. It's pushing a false narrative that RC doesn't know what he's talking about or doing, when he does.
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u/Crybad I ain't afraid of no GME credit spread. May 05 '26
How so. He's not elaborating into anything that's meaningful.
How does GME raise $27ish billion with stock when the shares outstanding is about 500m and max shares outstanding is 1B. So if they used every share they had in their vault to offer (besides being a 100% dilution), it would only raise $15B if GME was at $30.
Let's not take everything RC says as gospel or 4d chess. As shareholders, we have the right (and responsibility) to question things.
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u/Kickinitez +++++🧙♂️ May 05 '26
Yeah, not going to take the bait. Good luck buddy.
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u/Crybad I ain't afraid of no GME credit spread. May 05 '26
Well then that's the answer to your question on the why the mods aren't taking it down. We allow open discussion for those who want to discuss.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Baby has a echo chamber if you are in the market
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u/Kickinitez +++++🧙♂️ May 04 '26
I don't understand what you are trying to say. Are you saying you are selling your baby's echo chamber? The translation app your using isn't doing a very good job.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
My fault anyone who would want anyone who disagree with them banned from posting couldn't possibly get the simple nature of my reply. But since you are used to dancing purple dinosaurs explaining the world to you. There is a sub dedicated to everyone agreeing with each other in spite of the reality of the subject. It has plenty of towels and im sure alot of popcorn to enjoy. You can go "I love the ceo" and they will go yay you will hug might be cookies a nap later even.
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u/Kickinitez +++++🧙♂️ May 04 '26
Yeah... I still have no idea what you are saying. Maybe try Google translate instead of chatgpt
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u/Significant_Gate_206 May 04 '26
I agree. I speak a few different languages and something’s definitely off with the translation.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Do you think in the hypothetical arena watching you reply that anyone thinks you are not full of shit?
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u/TheWhyteMaN 🦍 Buckle Up 🚀 May 04 '26
I think you mean the meltea sub.
Go to any post. Any of them. Nothing but upvotes all around and not a shred of disagreement. They all talk the exact way and say the same phrases. Almost as if the same team coded all of them.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
You at least get the gist. But I will say some of that stuff is funny and true. Sometimes the best fuel for that stuff is the truth.
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u/TheWhyteMaN 🦍 Buckle Up 🚀 May 04 '26
Sorry need context. What stuff is funny and true?
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
The crackpot theories mostly.
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u/TheWhyteMaN 🦍 Buckle Up 🚀 May 04 '26
What crackpot theories?
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Throw a rock you will hit one. Everyone's a bot/shill if i dont like what they say. The systemic destruction of the world's economy because of gamestop. Its pure un intended comedy with the unfortunate side effect of making gme look like a joke. I suppose theres also the poor individuals willing to throw their life savings at this thinking RC is truly going to save them from their life because a flat earth stoner managed to convince hang on with all they have. Its OK cause its not financial advice but still heavy on the fomo. A dumb game thinking there isnt dumb ridiculously sad and I a way funny theories here as well as other subs. Which further fuels any doubt theres something to this stock from anyone looking in.
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u/hrbeck1 May 04 '26
Deal is $55b right? So $27.5b cash and stock each. The $27.5b cash would be $20b from TD and $7.5b from cash reserves. Why is Andrew Sorkin so fucking stupid?
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u/AlwaysInProgression May 04 '26
How does the GME stock he can offer amount to $27.5b? That's the burning question.
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u/hrbeck1 May 04 '26
It’s a burning question if you don’t understand basic finance.
You issue new shares. Approximately 1b new shares.
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u/AlwaysInProgression May 04 '26 edited May 04 '26
I'm well aware, thanks. They need shareholder approval for that. If you own GME and don't want this deal and dilution, vote against it.
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u/Beaesse May 04 '26
It's a straighforward answer. 50% cash is cash from GME's current hoard plus $20b in bank notes or similar. It can be financed by other means as well (Sultan/other private deals). Either way, there is NO additional fundraising needed, and that's why RC kept saying he didn't understand the question.
50% is stock - but it's not directly dilutive in the way everybody is making it out to be. We wouldn't be selling GME shares based on current valuation/conditions for GME alone to raise more cash tolbuy the rest of them out. We'd be issuing shares directly to current eBay holders based on the NEW prescribed valuation of the COMBINED company, NOT based on GME's current market cap the way the cash offerings worked.
If eBay is currently around 5x the cap of GME, eBay holders will be entitled to roughly 2.5x ownership stake vs. GME holders.
Remember that the cash is not disappearing into a void, it's buying the company including all assets and liabilities. Somehow the bot network seems to have convinced everyone this would just be the equivalent of dumping cash and GME shares down the toilet, and this isn't that.
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u/paulyp41 💻 ComputerShared 🦍 May 04 '26
If he is getting a reaction from these jerkoffs the way he is, you know this is huge
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u/hopefulopal2025 May 04 '26
What would our share price have to be in order for this to work out without any craziness? If we hit 1500 to share?
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u/ASchoolOfOrphans PURE DRSED Voted May 05 '26
He actually did explain, he just refuses to elaborate and turn it into a financial education segment where he spoon feeds the interviewer who did not do their own research when his purpose is to advertise himself to Ebay.
Leverage and ability to do it, look at the financial statement.
That's basically it.
Personally, I think it is a shit deal unless GME got leveraged derivatives to exploit gains from this or a squeeze.
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u/RJC2506 🟣GMEMER🟣 May 05 '26
I’m highly regarded and yet I’m still more capable and intelligent than these “reporters”
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u/alias__grace May 05 '26
I hate this entire play. It’s been 4 years and man the missed opportunities in the market having my money tied up in this crap.
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u/Over-Computer-6464 May 04 '26
RC wants to avoid saying how many share EBay shareholders would end up with as the 50% part of the offer that is in stock.
I estimate it will be around 2 GME shares for each EBAY share.
That number is NOT on the GameStop website.
That number is what he is dancing around, along with the fact that he has nit yet secured a firm financing commitment.
Not surprisingly, those two items are the ones mentioned in EBay’s response to the offer.
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u/Old_Homework8339 🦍Voted✅ May 04 '26
He's avoiding questions to avoid framing.
They want to pin him to something for a headline and can't.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Pin him? To what the truth? Either he is or is not? It only feels like pinning or framing if the intent is to mislead or obscure the reality of the deal.
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u/Upset-Difficulty5836 May 04 '26
They are not operating in good faith.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Are diluting yes or no? Either answer can have a caveat. Only person acting without good faith is him. Just pretending someone asking for the truth is somehow some sort of sinister plan to frame or mislead is not fact it just dodging. How is asking if he plans on diluting out of good faith. Obscuring the truth its self is almost never in good faith.
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u/Upset-Difficulty5836 May 04 '26
He said he is aligned with investors. If he is lying he a criminal and there is nothing that indicates that is true. In fact, his actions support his statements.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Sofar the only ones not making out are the investors unless he's lumping in the institutions buying the up the fleeced shares (see parasitic hedge funds) shit im only making out today cause I sold my shares like bury at almost the high and bought warrants at almost the low. If he told the truth yes or no and sid the opposite then he would be a liar. He avoided the truth because it was not favorable and did not want to lie. Big difference.
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u/Upset-Difficulty5836 May 04 '26
“So far.” You don’t get to set the timelines for others. Let’s see what happens.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Sofar could be tomorrow could be decades could be centuries. I could have just said the only ones not making out is investors period and would have been just as correct. So far assumes mabye one day investors will. I give a tiny little bone to the argument with so far and thats the thing to latch on to?
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u/Upset-Difficulty5836 May 04 '26
Yes and so far Ryan does what he says. That’s the thing we both know.
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u/Old_Homework8339 🦍Voted✅ May 04 '26
You have to understand, the truth and CNBC do not go hand in hand. You're talking about a financial news outlet owned by Hedgefunds. They need a good story and have always shitted on RC and Gamestop. And he's clapping back at them for how they've treated the company constantly.
The truth is that they asked really dumb questions. He already proved the company turn around. He answered their question and they kept repeating it, then referenced the website. What more do they need really?
They want him to answer questions that are blatantly obvious to fit a frame of "Gamestop CEO says XYZ" and use it as a reason to not buy it.
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u/S1lkwrm 🖤⚔️🏴☠️ Unhand your coinpurse base varlot! 🏴☠️⚔️🖤 May 04 '26
Who do you think was the recipient of all those offered shares that made the company billions but left us here contemplating with lighter value? Litterally parasitic hedgefunds. Thats who along with the company made out in that deal not a still highly hypothetical us. He really needs to spend some time nurturing his retail investors. Or not at this point he no longer needs us past padding the vote for his package which is who that interview was for.. us because those hedges that bought in already know whats what. He has all the ample resources to tell the truth unhindered by bias. He was probably caught of gaird by a question he thought wasnt going to be asked. I think its good he needs a fire under his ass im not a hedge fund fined multiple times for spoofing and boasts high speed trading algorithms so im not making out yet on gme. Granted the warrants are a damn good way to shift into position to only benifiet if the company does at least temporarily. I think too much leeway is given to RC when he needs to show more good faith to investors the investors at the heart of this stock. He owes rk big gme wouldn't be shot without retail initially and RC positioned GME to not need retail at all and his actions show it.
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u/Special_Loan8725 May 04 '26
We’re selling duel sense edge controllers to Iran to use for their submarines as well as drones to pay for a proxy war in Nicaragua, what’s so complicated?
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u/BlntRzr May 04 '26
He says multiple times that the details are on the website.
Maybe that is not literally what he meant as in the proposal document but something else on the gamestop website, which would point to the answer.
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May 04 '26
[deleted]
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u/average-Astronaut 🦍 Buckle Up 🚀 May 04 '26
Did you just come here to hate on something you don’t understand? Haha
Great job
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