Sharplink Raises $75M via Directed Share Offering, Eyes ETH Accumulation and Buybacks

SBET3.21%
ETH1.92%
According to Foresight News, Ethereum treasury company Sharplink (Nasdaq: SBET) announced the completion of a $75 million directed share offering on June 23. The company issued 10.013 million common shares and warrants at a combined price of $7.49 per share, representing a 41% premium to the June 18 closing price of $5.29. The warrants have a strike price of $8.15 per share and are exercisable for four years. CEO Joseph Chalom stated the proceeds will fund operational expenses and general corporate purposes, including continued ETH accumulation and share repurchases under the company's stock buyback program.
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