SharpLink Gaming Approves $1.5 Billion Stock Repurchase Program
According to Co-CEO Joseph Chalom, the buyback program may be pursued when shares trade below Ethereum net asset value, aiming to reduce dilution and enhance long-term shareholder value.
SharpLink Gaming, Inc. announced an official $1.5 billion stock repurchase program. Co-CEO Joseph Chalom stated that repurchases may occur when the company’s stock trades at or below the net asset value of its Ethereum holdings to prevent shareholder dilution. The initiative is designed to optimize capital allocation and support long-term shareholder value. Repurchases could be executed through open market transactions, private negotiations, or other approved methods, with timing and scale dependent on market conditions. The company clarified there is no obligation to repurchase a fixed number of shares, and the program may be suspended or terminated at any time.
- Stock Repurchase Program: A corporate strategy where a company buys back its own shares from the market to reduce the number of outstanding shares, potentially increasing the value of remaining shares.
- Net Asset Value (NAV): The total value of a company's assets minus its liabilities, often used to determine the value of an investment or a company’s stock relative to its holdings.
- Ethereum: A decentralized blockchain platform that supports smart contracts and decentralized applications, with its native cryptocurrency being Ether (ETH).