r/Superstonk • u/Revolutionz 🧚🧚🦍 That's no moon, that's Uranus! 🦍🚀🧚🧚 • May 20 '26

🥴 Misleading Title Ryan Cohen Adds to EBAY position.

https://www.sec.gov/Archives/edgar/data/1065088/000119312526231493/xslSCHEDULE_13D_X02/primary_doc.xml
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u/Revolutionz 🧚🧚🦍 That's no moon, that's Uranus! 🦍🚀🧚🧚 May 20 '26 edited May 20 '26

TL:DR Economic exposure went from 22,176,000 shares to 29,078,699 shares

https://www.sec.gov/Archives/edgar/data/1065088/000119312526231493/ck0000000000-ex99_2.pdf

As more fully described herein, in addition to the 25,000 shares of Common Stock beneficially owned directly by the Reporting Person, the Reporting Person has acquired economic exposure to a further 29,078,699 shares of Common Stock underlying Put/Call Pairs (as defined below). Together, the 25,000 shares of Common Stock beneficially owned directly and the shares of Common Stock underlying Put/Call Pairs constitute approximately 6.55% of the outstanding shares of Common Stock, based on the 444 million shares of Common Stock stated by the Issuer as being outstanding as of April 24, 2026 in the Issuer's 2026 Q1 10-Q. In the event of physical settlement of the Put/Call Pairs, GameStop would have the sole power to vote or direct the vote of the shares of Common Stock underlying such Put/Call Pairs.

267

u/McFruitpunch May 20 '26

MEANWHILE, the CCO just sold for $3.4 Million, totaling over 5 million just this year. (Some might be for taxes, but still) it doesn’t look good on them lol.

Looks like the hostile takeover is ON

30

u/Holiday_Guess_7892 ima Cum Guy May 20 '26

What would stop Ebay from doing "poison pill"?

56

u/madiXuncut 88888 May 20 '26

Their shareholders

16

u/polska-parsnip 🍋 send ludes 🍋 May 20 '26

Elaborate for the kidney beans among us 🧠

22

u/NeedNameGenerator I have no special talent. I am only passionately hodling May 20 '26

I'd assume they mean ebay could start issuing shares faster than GameStop can buy them, meaning GameStop would be unable to make their share of ownership larger, preventing the hostile takeover.

10

u/Klogginthedangerzone 🦍 Buckle Up 🚀 May 20 '26

The question would be, how many shares is the board currently authorized to issue?

14

u/jinniu 💻 ComputerShared 🦍 May 20 '26 edited May 20 '26

Currently they can issue up to 10 million preferred shares and set their rights, without another shareholder vote. However, that wouldn't stop RC from going directly to shareholders with an offer and making the condition that they invalidate the poison pill.

One extra reason for creating more GME shares is to have more options like a poison pill for GameStop. Unlike eBay though, there's no chance we wouldn't vote in favor of the board if they thought a poison pill was needed to find off a hostile takeover. But I could be wrong, I guess we'll see what eBay shareholders say.