Announced in a detailed securities purchase agreement, SharpLink Gaming plans to conduct a private investment in public equity (PIPE). The offering involves the issuance of approximately 69.1 million shares, priced at $6.15 per share, with a slightly higher rate of $6.72 per share for certain management team members.2
Leading this sizable investment round is ConsenSys Software Inc., a recognized blockchain technology company. The funding initiative also attracted a host of high-profile crypto-focused venture capital firms and infrastructure providers.
Notable participants include ParaFi Capital, Electric Capital, Pantera Capital, Galaxy Digital, Ondo, Arrington Capital, White Star Capital, GSR, Hivemind Capital, Hypersphere, Primitive Ventures, and Republic Digital. Additionally, senior executives from SharpLink, such as CEO Rob Phythian and CFO Robert DeLucia, have joined this strategic financial effort.
The cryptocurrency will act as the company’s principal reserve asset, providing both liquidity and potential for appreciation. A.G.P./Alliance Global Partners is exclusively managing the offering’s placement process.
SharpLink Gaming’s move highlights the broader corporate trend of integrating cryptocurrencies, particularly Ethereum, into treasury management practices.
Rob Phythian, SharpLink’s founder and CEO, highlighted this strategic initiative as a notable expansion beyond the company’s existing operational focus.
Phythian expressed enthusiasm about collaborating closely with ConsenSys and specifically welcomed Joseph Lubin, Ethereum’s co-founder, to SharpLink’s board of directors. Lubin’s inclusion brings substantial blockchain expertise, potentially enabling SharpLink to optimize its Ethereum reserve strategy effectively.
Lubin views SharpLink’s strategic commitment as beneficial not only for Ethereum’s growth but also for the broader public market understanding of blockchain’s practical business applications.
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