Overview
- SharpLink agreed to sell 4.5 million shares at $17 each, a 12% premium to the prior close, for gross proceeds of $76.5 million, with closing expected on or about October 17 subject to customary conditions.
- The investor received a 90-day premium purchase contract to buy up to another 4.5 million shares at $17.50, which could add $78.8 million if fully exercised.
- The company says proceeds will be used to accumulate more Ether and deploy assets on-chain to increase ETH-per-share for investors.
- SharpLink reports holdings of about 840,124 ETH and positions itself as a leading public Ether treasury operator.
- Coverage noted mixed trading after the announcement and highlighted context including BitMine’s larger ETH treasury and Citizens’ initiation on SBET with a $50 price target.