Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Investing.com -- SharpLink Gaming, Inc. (NASDAQ:SBET) stock surged 14% on Monday as Ether rose and the company announced a $400 million registered direct offering with institutional investors.
The gaming company entered into securities purchase agreements with five global institutional investors, some of which it described as "among the largest in the world." The offering was priced at $21.76 per share, at-the-market under Nasdaq rules.
SharpLink stated that combined with its current holdings of approximately 598,800 Ether (ETH) as of August 10, 2025, and approximately $200 million in ATM proceeds yet to be deployed, the company’s ETH holdings are expected to exceed $3 billion in value. Ether hit a high of $4,349 during the session.
"Raising nearly $900 million in capital over the past week underscores the market’s confidence in SharpLink’s ETH treasury strategy," said Joseph Chalom, Co-Chief Executive Officer of SharpLink. "The speed and scale of these investments reflect not only investor trust in SharpLink, but also the growing recognition of Ethereum’s transformative potential."
A.G.P./Alliance Global Partners (NYSE:GLP) is acting as the sole placement agent for the offering, while Cantor is serving as financial advisor to the company. The offering is expected to close on or about August 12, 2025, subject to customary closing conditions.
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