A $1 billion ETH deal
SharpLink Gaming Inc., listed on NASDAQ under the ticker SBET, announced a plan to raise up to $1 billion through the issuance of shares aimed at purchasing (ETH)
Deal details:
• Primary objective: Use most of the proceeds to purchase Ethereum (ETH) to become the main asset in the company's treasury.
• Financial structure: Issuing up to 72,051,288 shares of common stock, with an expectation to raise approximately $1 billion in total revenues.
• Key investors: The previous funding round of $425 million included companies such as Consensys, Galaxy Digital, ParaFi Capital, Ondo, and Pantera Capital.
• Management appointments: Joseph Lubin, co-founder of Ethereum and founder of Consensys, has been appointed Chairman of the Board of SharpLink.
Impact of news on the market:
• SBET stock: Experienced a significant increase of over 1000% following the announcement of the deal, reflecting investor interest and positive response.
• Ethereum (ETH): This massive investment is expected to increase demand for ETH, which may positively affect its market price.
Cryptocurrency tokens:
• Ethereum: Ticker ETH.
• SharpLink Gaming stock: Ticker SBET on NASDAQ.