Sharplink Gaming, Inc. (NASDAQ: SBET) has announced the pricing of a registered direct offering, representing a 12% premium to the company's closing share price of $15.15 on October 15, 2025. The offering involves the purchase and sale of 4.5 million shares of its common stock, par value $0.0001 per share, at a purchase price of $17.00 per share, resulting in aggregate gross proceeds of $76.5 million.
Additionally, as part of this transaction, the investor has been granted a 90-day premium purchase contract (PPC) to purchase up to an additional 4.5 million shares of common stock at an exercise price of $17.50 per share, representing a 19% premium to the closing share price.
The company's co-CEO, Joseph Chalom, emphasized that the transaction reflects strong institutional confidence in Sharplink and its long-term vision. Furthermore, the company remains bullish on the long-term Ethereum opportunity, citing accelerating retail and institutional adoption of Ethereum across stablecoins, tokenized assets, and decentralized finance.
This offering and the PPC are being made pursuant to an effective shelf registration statement on Form S-3ASR (File No. 333-287708), declared effective by the U.S. Securities and Exchange Commission (SEC) on May 30, 2025. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
The press release also noted that Sharplink Gaming, Inc. is one of the world's largest publicly traded companies to adopt Ethereum as its primary treasury reserve asset, providing investors with direct exposure to Ethereum.
The company's forward-looking statements underscore its optimism about future expectations, plans, and prospects, particularly in relation to its strategic vision and Ethereum adoption. Following these announcements, the company's shares moved -3.83%, and are now trading at a price of $14.57. Check out the company's full 8-K submission here.
