GameStop drops after announcing $1.3 bln convertible bond deal to buy bitcoin

** Shares of GameStop drop 8.3% to $26 in extended trading as video game retailer seeks capital raise to buy bitcoin ** GME shares on Weds finished up 11.7% at $28.36 after co said it would invest in the world's largest cryptocurrency** After the bell, co says offering privately $1.3 bln 0% 5-yr convertible bonds** Co has ~$12.7 bln market cap, per LSEG data** Through Weds, stock off 9.5% YTD but up >80% over the past 12 months