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SharpLink Gaming Set to Increase Ethereum Holdings Over $2 Billion with $200 Million Deal

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by Giorgi Kostiuk

2 hours ago

SharpLink Gaming is closing a $200 million deal, significantly boosting its Ethereum reserves and expected to finalize around August 8.

Deal Details and Objectives

US-based SharpLink Gaming is entering a $200 million deal that will elevate its Ethereum reserves beyond $2 billion. The offering is priced at $19.50 per share, backed by four global institutional investors.

Institutional Investor Support

Co-CEO Joseph Chalom stated: "SharpLink is proud to be joined by globally-recognized institutional investors. It further validates our mission to be the world’s leading ETH treasury." The offering is being handled by A.G.P./Alliance Global Partners and Société Générale.

Strategy and Ethereum Market

Following the announcement, SharpLink's stock (SBET) rose 4.74% to $23.19, indicating strong investor confidence despite volatility. Chalom emphasized the company's commitment to creating long-term shareholder value, exploring various capital formation opportunities to grow ETH concentration.

Thus, SharpLink Gaming's strategy could serve as a model for other companies seeking to diversify into Ethereum-based assets.

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