Odaily News According to GlobenewsWire, SharpLink Gaming, Inc. (NASDAQ: SBET), a US-listed company, announced today that it has signed a securities purchase agreement for a $425 million private placement investment, and plans to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (US$6.72 per share for members of the company's management team). Consensys Software Inc. led the investment as the main investor, and the participating parties include well-known crypto venture capital institutions such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. The transaction is expected to be completed on May 29.
SharpLink plans to use the raised funds to purchase Ethereum as the company's main treasury reserve asset. After the transaction is completed, Ethereum co-founder and Consensys founder and CEO Joseph Lubin will serve as chairman of the board of directors of SharpLink and will serve as a strategic advisor to assist the company in developing its core business.