Sharplink Gaming, Inc. (NASDAQ: SBET) has announced the pricing of a registered direct offering, with an institutional investor purchasing 4.5 million shares of its common stock at a price of $17.00 per share. This represents a 12% premium to the company's closing share price of $15.15 on October 15, 2025. The aggregate gross proceeds from this offering are expected to be $76.5 million.
Additionally, the investor has been granted a 90-day premium purchase contract to buy up to an additional 4.5 million shares at an exercise price of $17.50 per share, representing a 19% premium to the closing share price. If fully exercised, this would result in the company receiving an additional $78.8 million in gross proceeds.
This move has been described as "accretive to stockholders" and "strategically structured", reflecting strong institutional confidence in Sharplink and its long-term vision. The company aims to continue accumulating Ether (ETH) and increasing ETH-per-share for its investors.
The offering is being made pursuant to an effective shelf registration statement on Form S-3ASR (File No. 333-287708), which was 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.
Sharplink Gaming, Inc. is one of the world's largest publicly traded companies to adopt ETH as its primary treasury reserve asset, giving investors direct exposure to Ethereum, the world's leading smart-contract platform and second largest digital asset.
Today the company's shares have moved -3.83% to a price of $14.57. Check out the company's full 8-K submission here.
