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Sharplink Gaming, Inc. (NASDAQ:SBET), a volatile gaming stock with a market capitalization of $2.2 billion and a beta of 12.1, reported Friday that its shareholders approved two key proposals at a special meeting held Thursday via webcast, according to a statement based on a recent SEC filing. InvestingPro analysis shows the stock has demonstrated significant price swings, with over 15 key metrics available for deeper insight.
The first approved measure amends the company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 100,000,000 to 500,000,000. The amendment became effective at 5:10 p.m. Eastern Time on Thursday, following its filing with the Secretary of State of Delaware on July 22. According to InvestingPro data, the company currently maintains a healthy current ratio of 3.27, indicating strong short-term liquidity despite not being profitable in the last twelve months.
Voting results show 34,643,535 shares were cast in favor of the share increase, with 405,830 against and 27,213 abstaining. The company reported that, as of the record date of June 18, there were 62,125,336 shares outstanding and 35,076,578 shares present at the meeting or by proxy, representing approximately 56% of the voting power.
The second proposal, also approved, amends and restates Sharplink Gaming’s 2023 Equity Incentive Plan. The amendment increases the number of shares of common stock reserved for issuance under the plan by 8,000,000, bringing the total to 8,034,166 shares.
For this proposal, 19,085,322 shares were voted in favor, 186,899 against, and 1,154,249 abstained, with 14,650,108 broker non-votes recorded.
The company indicated it will file an amendment to its current report with final voting numbers when available. With the stock showing a remarkable 311% return over the past six months and the next earnings report due in 19 days, investors seeking comprehensive analysis can access additional insights through InvestingPro, which offers exclusive financial metrics and real-time updates.
Sharplink Gaming, Inc. is incorporated in Delaware and is listed on the Nasdaq Stock Market under the ticker SBET. All information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.
In other recent news, SharpLink Gaming has announced the appointment of Joseph Chalom as its new Co-Chief Executive Officer, effective July 24, 2025. Chalom brings a wealth of experience from his previous role at BlackRock (NYSE:BLK), where he was instrumental in launching the iShares Ethereum Trust. Additionally, SharpLink reported a significant increase in its Ethereum holdings, which grew by 29% to 360,807 ETH as of July 20, 2025. This marks the highest weekly purchase of Ethereum in the company’s history, reflecting its position as a major corporate holder of Ether.
In another development, SharpLink Gaming has amended its at-the-market (ATM) Sales Agreement with A.G.P./Alliance Global Partners (NYSE:GLP). This amendment increases the maximum aggregate offering amount of its common stock from $1 billion to $6 billion. The amendment also introduces the option for forward sales of shares. Furthermore, SharpLink Gaming has been added to Bybit’s TradFi platform, alongside CleanSpark (NASDAQ:CLSK) Inc. and Bitfarms Ltd., expanding its presence in the intersection of traditional finance and digital assets.
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