SharpLink Gaming plans to raise $1 billion to purchase ETH.

robot
Abstract generation in progress

PANews, May 31 - SharpLink Gaming submitted Form S-3 ASR to the US SEC, registering a total scale of securities not exceeding $1 billion for the future issuance of common stock depending on market conditions. After this issuance, the maximum number of common stock issued can reach 72,051,288 shares. The majority of the proceeds from this issuance will be used to purchase the native crypto asset Ether (ETH) on the Ethereum blockchain, and it is also planned to use the proceeds for working capital needs, general corporate purposes, operating expenses, etc. According to previous news, SharpLink Gaming announced that it will complete a private placement financing of approximately $425 million, with Consensys as the lead investor, and the transaction is expected to be completed on May 29. The financing funds will be used to purchase Ethereum (ETH) and establish ETH as the company's primary reserve asset.

ETH-0.52%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)