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SharpLink raises $200m to power Ethereum treasury past $2b threshold
The post SharpLink raises $200m to power Ethereum treasury past $2b threshold appeared on BitcoinEthereumNews.com. SharpLink Gaming has secured $200 million from institutional investors in a direct offering, setting the stage for what could become one of the largest ETH treasuries in the world, surpassing $2 billion in value, according to the company. Summary SharpLink Gaming raised $200M from institutional investors to boost its Ethereum treasury beyond $2B. The move comes just days after the firm disclosed a $304M ETH acquisition, bringing its holdings to 521,939 ETH. On August 7, Minneapolis-based gaming company SharpLink Gaming announced it had entered into purchase agreements with four undisclosed institutional investors to raise $200 million through a registered direct offering of common stock priced at $19.50 per share. The capital, expected to close by August 8, will be deployed entirely toward expanding the firm’s Ethereum (ETH) reserves, a move that would push its total ETH holdings beyond the $2 billion mark at current prices and deepen the company’s alignment with Ether as its core reserve asset. According to the press release, the deal was brokered by lead placement agent A.G.P./Alliance Global Partners and co-placement agent Societe Generale, with Cantor serving as financial advisor. Strategic acceleration or treasury arms race? For SharpLink, the timing of this raise appears far from coincidental. The $200 million announcement landed barely 48 hours after the firm revealed in an August 5 SEC filing that it had acquired 83,561 ETH for $304 million, bringing its total Ethereum holdings to 521,939 ETH, worth just under $1.9 billion at current prices. According to the company, the capital for that purchase came from two recent tranches of at-the-market equity sales totaling more than $540 million. This latest injection of $200 million appears to be aimed at consolidating SharpLink’s place near the top of the Ethereum treasury leaderboard. “SharpLink is proud to be joined by globally-recognized institutional investors, augmenting…
The post SharpLink raises $200m to power Ethereum treasury past $2b threshold appeared on BitcoinEthereumNews.com.
SharpLink Gaming has secured $200 million from institutional investors in a direct offering, setting the stage for what could become one of the largest ETH treasuries in the world, surpassing $2 billion in value, according to the company. Summary SharpLink Gaming raised $200M from institutional investors to boost its Ethereum treasury beyond $2B. The move comes just days after the firm disclosed a $304M ETH acquisition, bringing its holdings to 521,939 ETH. On August 7, Minneapolis-based gaming company SharpLink Gaming announced it had entered into purchase agreements with four undisclosed institutional investors to raise $200 million through a registered direct offering of common stock priced at $19.50 per share. The capital, expected to close by August 8, will be deployed entirely toward expanding the firm’s Ethereum (ETH) reserves, a move that would push its total ETH holdings beyond the $2 billion mark at current prices and deepen the company’s alignment with Ether as its core reserve asset. According to the press release, the deal was brokered by lead placement agent A.G.P./Alliance Global Partners and co-placement agent Societe Generale, with Cantor serving as financial advisor. Strategic acceleration or treasury arms race? For SharpLink, the timing of this raise appears far from coincidental. The $200 million announcement landed barely 48 hours after the firm revealed in an August 5 SEC filing that it had acquired 83,561 ETH for $304 million, bringing its total Ethereum holdings to 521,939 ETH, worth just under $1.9 billion at current prices. According to the company, the capital for that purchase came from two recent tranches of at-the-market equity sales totaling more than $540 million. This latest injection of $200 million appears to be aimed at consolidating SharpLink’s place near the top of the Ethereum treasury leaderboard. “SharpLink is proud to be joined by globally-recognized institutional investors, augmenting…
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