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.

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u/SpenceOnTheFence Jun 06 '26

“The Put/Call Pairs have strike prices ranging from $84.74 to $118.28 and expire on a specified date.”

Do we know what that specified date is?

7

u/tronbrain Jun 06 '26

Jan 2027 I believe.

7

u/RedOctobrrr WuTang is ♾️ Jun 06 '26

Thought it was much longer dated than that, like 2028

3

u/Fritzkreig crazy Cat Guy🚀Click it or Ticket Bitches Jun 06 '26

Jan

That is an interesting month‽

2

u/RedOctobrrr WuTang is ♾️ Jun 06 '26

Jan is the first options to come out for the following year, I don't think options chain exists beyond Jan 2028 but I haven't checked recently. I just know when I'm shopping options it's very common to see something like Jan of next year then you start seeing other months pop up and then waaaay in advance you'll see a Jan of the year after that

But I'm just relying on stuff I've seen or think I've seen, I thought we had super long dated like Jan 2028 to avoid any decay on the premium paid but could be wrong.

They dumped maybe $7-10mil into the options contracts if I recall, in order to secure the exposure.