GameStop shares are dropping 20% Thursday morning, a day after the video-game retailer announced a new fundraising effort.

GameStop is raising money by selling special financial instruments called Convertible Senior Notes. They plan to sell $2.25 billion worth of these notes and might sell an additional $450 million if the buyers want more.

GameStop (GME) shares came crumbling down more than 22% on Thursday after the gaming merchandise retailer disclosed plans of a convertible notes offering to raise as much as $1.75 billion. While not explicitly mentioned in the press release,