SharpLink, a gaming firm listed on Nasdaq, has announced that it is entering into securities purchase agreements totaling $400 million with five institutional investors worldwide. The company confirmed this development in a blog post on Monday, noting that the investors include some of the world’s largest institutional investors.
Combined with its current holding of approximately 598,800 ETH and about $200 million in ATM undeployed, SharpLink ETH holdings will exceed $3 billion in value. Similarly, the purchase agreements, under a registered direct offering priced at $21.76 per share ( at-the-market under Nasdaq rules) will result in gross proceeds of approximately $400 million. This is before deducting placement agent commissions and other offering expenses.
Although, still subject to the satisfaction of customary closing conditions, the offering is expected to close on or before August 12, 2025. Alliance Global Partners (A.G.P.) serves as the sole placement agent for this offering. Additionally, Cantor is acting as the company’s financial advisor. SharpLink makes this offering under an effective shelf registration statement on Form S-3ASR (File No. 333-287708), which the Securities and Exchange Commission declared effective on May 30, 2025.
SharpLink Co-Chief Executive Officer comments on the development
Meanwhile, the Co-Chief Executive Officer of SharpLink, Joseph Chalom reacted to the development. Chalom revealed that raising nearly $900 million in capital over the past week underscores the market’s confidence in SharpLink’s ETH treasury strategy. He added that the speed and scale of these investments does not only reflect investors trust in the firm, but also the growing interest in Ethereum’s transformative potential.
It’s worth noting that SharpLink is still the largest publicly traded company to have adopted Ethereum as its primary treasury reserve asset. As revealed, this move aligns with the company’s vision for digital capital, providing investors with direct exposure to Ethereum (ETH), which is the world’s leading smart-contract platform and the second-largest digital asset.
Just last week, SharpLink revealed its plan to raise $200 million to boost its ETH strategic reserve. As revealed, the firm had plans to boost its ETH reserve beyond $2 million with the fundraising.
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