- SharpLink raised $76.5 million by selling shares at a 12% premium to its market price.
- The investor can buy more shares at a higher price, which may bring total funding above $155 million.
- SharpLink plans to grow its Ethereum holdings and increase ETH per share for long-term value.
SharpLink Gaming Inc. (Nasdaq: SBET) has raised $76.5 million through a direct equity offering priced at $17 per share. This price marks a 12% premium over its October 15 closing price of $15.15.
The company offered 4.5 million shares to a single institutional investor. The deal stands out as one of the few recent transactions in the digital asset treasury space executed above both market value and net asset value.
Exclusive 90-Day Option May Double Capital Raised
Alongside the share purchase, the investor received a 90-day premium purchase contract. This contract allows the investor to buy another 4.5 million shares at $17.50 each.
That figure represents a 19% premium over SharpLink’s closing price on October 15. If fully exercised before the January 15, 2026, deadline, the company could raise an additional $78.8 million. This would push total proceeds to over $155 million. The structure supports ongoing capital inflows while helping protect shareholder value.
Focus Remains on Ethereum Treasury Strategy
SharpLink is known as one of the largest corporate holders of Ether. The funds will be used to expand its Ethereum treasury. The company aims to increase its ETH-per-share ratio as part of a long-term strategy.
SharpLink currently holds 840,124 ETH, second only to Bitmine Immersion Technologies. BitMine holds over 2.65 million Ethereum, making it the largest ETH treasury in the world. The shift represents an increase in confidence in Ethereum in terms of all tokenized assets, stablecoins, and decentralized finance.
Strong Share Performance Supports Strategic Direction
Shares of SBET have surged 435% over the past six months. The stock closed at $14.77 on October 16. Trading on Thursday saw a 3.7% increase to $15.57, aligning with a rise in Ethereum’s price above $4,000. SharpLink’s market capitalization now stands at $2.9 billion. It recently launched its $1.5 billion share repurchase program. The equity raise, priced above both NAV and market, appears to have reinforced institutional confidence. Earlier volatility saw shares spike above $80 in June before settling.
The offering was arranged by A.G.P./Alliance Global Partners, which acted as the sole placement agent. Legal counsel for SharpLink was provided by Thompson Hine LLP, while Sullivan & Worcester LLP advised A.G.P. The company’s participation in the Digital Assets Summit 2025 in London added visibility, with leadership addressing ongoing institutional trends in digital asset adoption.
