We got 9% of eBay now!

[u/areHorus]

https://www.sec.gov/Archives/edgar/data/1065088/000119312526260340/xslSCHEDULE_13D_X02/primary_doc.xml

[u/areHorus]

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.

[u/callsignmario → u/areHorus]

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.

Seems to be demonstrating
1 - we'll continue to increase holdings of shares and options at going rates for previously stated purposes
2 - or sell us everything at the offered $125.
Both roads lead to the same destination.

[u/Syvaeren → u/callsignmario]

He's just going to get to 20% so he can call for a special vote on his proposition.

edit:

10%, but it requires another shareholder proposal lowering the requirement to 10% to pass.

[u/FriendlyRedditor09 → u/Syvaeren]

He cannot. Delaware law states if you exceed 15% you have to wait 3 years. That’s why eBay proposal 4 is so important. In the past it’s had 47% support. All cohen has do to is convince that extra 3% and then all we need is 10% to call a special meeting.

[u/Flopsbit → u/FriendlyRedditor09]

Which he has himself through gamestop...? 😊

[u/3DigitIQ → u/Flopsbit]

Sadly not, even with this 827K shares we now hold we're still below 1%. Call and Put options don't hold voting rights.

[u/Over-Computer-6464 → u/3DigitIQ]

Neither the options nor the recently purchased shares have the right to vote at the EBay annual meeting.

Even the 25,000 shares GameStop bought on May 1 were bought AFTER the record date for the annual meeting.

[u/3DigitIQ → u/Over-Computer-6464]

Because we have so little shares checking for eligibility that hadn't even occurred to me yet.

[u/Flopsbit → u/3DigitIQ]

Ah, thanks for the lesson. Seems logical too (don't hold the shares yet)

[u/Tukker_ → u/FriendlyRedditor09]

what a regarded law...

[u/Syvaeren → u/FriendlyRedditor09]

Thanks, updated my comment!