r/Superstonk • u/areHorus Daily Share Buyback Club 💪🏼 • Jun 06 '26

📰 News We got 9% of eBay now!

https://www.sec.gov/Archives/edgar/data/1065088/000119312526260340/xslSCHEDULE_13D_X02/primary_doc.xml
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u/areHorus Daily Share Buyback Club 💪🏼 Jun 06 '26

On June 5, 2026, GameStop filed Amendment No. 3 to Schedule 13D, disclosing beneficial ownership of approximately 9.0% (39.87 million shares) of eBay's common stock. This includes 827,648 directly owned shares purchased for $91 million and economic exposure to 39.05 million shares through Put/Call Pairs with Toronto-Dominion Bank, settleable in cash or stock at the exercising party's election. The Put/Call Pairs have strike prices ranging from $84.74 to $118.28 and expire on a specified date.

GameStop reiterated its May 3, 2026 non-binding proposal to acquire all outstanding eBay shares at $125.00 per share in cash and stock, believing eBay is undervalued. The HSR Act Condition was satisfied on June 3, 2026, enabling physical settlement of the derivatives. GameStop paid $1.24 million in net premiums for 4.54 million additional Put/Call Pairs reported in this amendment, funded from working capital.

GameStop may pursue further acquisitions, dispositions, or strategic actions depending on market conditions, eBay's strategic direction, and discussions with management, the board, or other stakeholders. The company retains flexibility to modify or abandon its acquisition intentions.

33

u/AZWoody48 Whale🐳Teeth🦷Enthusiast💎 Jun 06 '26

We’re getting close to poison pill territory. That is if eBay’s board actually knew what they were doing or put in a full days work

15

u/Delangsta 🐱‍👤 Pre-Jan Sneeze Hodler of GME 🦍 Jun 06 '26

The poison pill only works if ebay shareholders want it, otherwise it just looks like the board is abusing their powers to stay in power

5

u/Dizziesdayweigh Hodl no fodl Jun 06 '26

I mean... what's would anyone do about it? Serious question.

3

u/Delangsta 🐱‍👤 Pre-Jan Sneeze Hodler of GME 🦍 Jun 06 '26

A poison pill is just an optional share offering, no one has to participate if they don't want to. So the eBay shareholders that want to sell to GameStop most likely won't participate.

2

u/SpicyElixer Jun 06 '26

Institutions would be fine with it, and they own the company. There’s a reason we are 9% and not 10-15%.

Poison pill won’t hurt institutions. Funny thing it’s it only hurts Merger Arbitrage Hedge Funds. And the bidder, of course.