Johann Wilfred
SharpLink Gaming announced on Monday that it has entered into multiple securities purchase agreements
The company currently holds 598,800 ETH
The update comes nearly a week after the firm stacked more Ethereum, with total holdings reaching 521,939 ETH
Online performance marketing company SharpLink Gaming announced on Monday that it has entered into multiple securities purchase agreements with five institutional investors for a total amount of $400 million, as per an official press release by the firm.
The company currently holds 598,800 ETH, and with another $200 million in ATM proceeds to be secured, SharpLink Gaming has stated that its ETH holdings are projected to cross $3 billion in value.
“Raising nearly $900 million in capital over the past week underscores the market’s confidence in SharpLink’s ETH treasury strategy. The speed and scale of these investments reflect not only investor trust in SharpLink, but also the growing recognition of Ethereum’s transformative potential,” said co-CEO Joseph Chalom.
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Priced at $21.76 per share, the purchase agreements will net the company a total of $400 million in proceeds before any relevant deductions.
The update comes nearly a week after the firm stacked more Ethereum, with total holdings reaching 521,939 ETH.
Source: Google Finance
At the time of reporting, SharpLink Gaming shares were priced at $25.62, up by 7.11%.
Despite the aggressive purchases, SharpLink Gaming is no longer the largest publicly traded corporate holder of Ethereum, losing the top spot to BitMine Immersion Technologies.
