Sharplink Gaming, Inc. (NASDAQ: SBET) expects its Ethereum (ETH) holdings to exceed $3 billion after a registered direct offering of $400 million with institutional investors. Sharplink is impressed with the $400 million institutional deal, revealing that the Minneapolis-based company has entered into purchase agreements with five global institutional investors, including some of the largest investors in the world. The offering proceeds, at a price of $21.76 per share, will amount to $400 million before fees. The deal is expected to close on approximately August 12, according to standard terms. As of August 10, Sharplink held approximately 598,800 ETH. Alongside the offering and $200 million in unused ATM revenues, its ETH reserves top $3 billion. Co-Coo Joseph Chalom stated that the $900 million raised in recent weeks reflects market confidence in Sharplink's Treasury Eth strategy and the 'transformational potential' of Ethereum. Cantor served as a financial advisor. The offering used an effective registration with the SEC (file number 333-287708). Sharplink is among the largest public companies to adopt ETH as a primary treasury asset, developing online gaming solutions. It aims to provide direct exposure to investors for Ethereum. The company is among a growing array exploring the idea of stacking ether on their balance sheets. This listing features #BinanceAlphaAlert
