SharpLink Gaming secured $200M in a direct offering at $19.50 per share to expand its Ethereum treasury above $2B, reinforcing its shift towards a crypto-centric financial strategy.
On August 7, SharpLink Gaming announced a $200 million registered direct offering priced at $19.50 per share, led by A.G.P./Alliance Global Partners with Société Générale and Cantor Fitzgerald advising. The funds will be used exclusively to acquire additional Ethereum, following a recent $304 million purchase of 83,561 ETH at an average price of $3,638 that boosted its reserves to about 521,939 ETH (roughly $1.9 billion). In just two months, supported by over $540 million in ATM equity sales, the Minneapolis-based firm has become the second-largest corporate ETH holder tracked by SER, with all its ETH staked to yield more than $3.4 million in rewards.