SharpLink Gaming Raises $76.5 Million in Direct Offering
SharpLink Gaming, Inc. (Nasdaq: SBET) announced a $76.5 million registered direct offering. The shares were priced at $17.00 each, a 12% premium over the October 15 closing price of $15.15. The Minneapolis-based company sold 4.5 million shares, reflecting strong institutional interest in its Ethereum-based treasury strategy.
The offering includes a 90-day premium purchase contract. This contract allows investors to buy up to an additional 4.5 million shares at $17.50 each, a 19% premium to the market price. If fully exercised, this would raise an additional $78.8 million. SharpLink plans to use the proceeds to increase its Ether (ETH) holdings and expand operations.
Institutional Confidence in Ethereum Treasury Model
Co-CEO Joseph Chalom said the transaction “reflects strong institutional confidence.” He described the raise as “strategically structured” and “accretive,” supporting SharpLink’s long-term focus on Ethereum adoption. The company currently holds over 840,000 ETH, aligning its treasury with what it calls “the future of digital capital.”
ETH Holdings Growth and Corporate Adoption
This capital raise follows SharpLink’s recent milestone of surpassing $900 million in unrealized ETH profits. The company confirmed that all its Ethereum holdings are now staked to generate yield. It plans to create ETH-denominated revenue streams to increase exposure and valuation.
SharpLink positions itself against Ethereum exchange-traded funds (ETFs) by staking 100% of its ETH. This approach aims to capture higher yields than regulated funds can offer. By raising capital at a premium, SharpLink is doubling down on Ethereum’s potential as both a treasury asset and revenue source.
The firm’s model shows how public companies can use blockchain assets for financial operations, not just speculation. The premium-backed sale signals growing institutional adoption of Ethereum. It also highlights how companies integrate staking and tokenization into treasury management, bridging traditional finance and decentralized markets.
For more details, visit the SharpLink investor relations page.
