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MINNEAPOLIS - SharpLink Gaming, Inc. (NASDAQ:SBET), a marketing company serving the sports betting and iGaming industries, today disclosed a 1-for-12 reverse stock split of its outstanding common stock, set to take effect at the start of trading on May 6, 2025. This strategic move aims to elevate the company’s per share trading price to comply with the Nasdaq Capital Market’s minimum bid price requirement. The announcement comes as the stock trades at $0.27, having declined over 70% in the past year, according to InvestingPro data.
The reverse stock split will not change the number of authorized shares under Delaware law and will be applied to shares issuable upon exercising outstanding warrants and stock options. SharpLink’s common stock will remain listed on the Nasdaq Capital Market under the ticker symbol SBET, albeit with a new CUSIP number, 820014405.
For every twelve existing shares, shareholders will receive one post-split share. The process for exchanging shares will be managed by SharpLink’s transfer agent, Equiniti Trust Company, LLC. Stockholders will not receive cash for any fractional shares resulting from the split; instead, fractions will be rounded to the nearest whole share.
SharpLink, based in Minneapolis, Minnesota, operates as a key marketing partner for sportsbooks and online casino gaming operators globally. The company’s affiliate marketing network, PAS.net, has garnered industry recognition for its effectiveness in player acquisition and retention.
This announcement is based on a press release statement from SharpLink Gaming, Inc. The company cautions that forward-looking statements within the release are subject to various risks and uncertainties and may differ materially from actual future results or achievements. According to InvestingPro, which offers 15+ additional insights about SBET, the stock appears undervalued based on its Fair Value analysis. Subscribers can access detailed financial metrics, real-time alerts, and comprehensive company analysis.
In other recent news, SharpLink Gaming, Inc. has executed a strategic financial maneuver by entering into an exchange agreement with Alpha Capital Anstalt. This agreement resulted in the elimination of SharpLink’s Series A-1 and Series B Preferred Stock, as Alpha Capital exchanged these shares for 464,195 shares of SharpLink’s common stock and 535,805 prefunded warrants. These prefunded warrants, which are exercisable at $0.001, offer Alpha Capital the opportunity to purchase additional common shares. This move simplifies SharpLink’s capital structure and is part of its ongoing efforts to optimize its balance sheet and shareholder value. Furthermore, SharpLink Gaming has been granted an extension by the Nasdaq Listing Qualifications Panel to meet the exchange’s minimum bid price and stockholders’ equity requirements by May 23, 2025. This decision follows a hearing where SharpLink presented its plan to regain compliance, allowing its stock to remain listed and tradeable on the Nasdaq. The company is required to file a public disclosure detailing any equity-increasing transactions and provide updated income projections by the deadline.
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