SharpLink Gaming raises $200 million in registered direct offering

SharpLink Gaming Inc. (NASDAQ: SBET) entered into securities purchase agreements with four institutional investors for a registered direct offering of common stock priced at $19.50 per share, generating gross proceeds of approximately $200 million before fees and expenses.

The company expects the offering to close on or about August 8, 2025, subject to customary closing conditions. SharpLink plans to use the net proceeds to expand its Ether treasury, which the company projects will exceed $2 billion in value upon deployment.

"SharpLink is proud to be joined by globally-recognized institutional investors, augmenting our strong existing investor base and further validating our mission to be the world's leading ETH treasury," stated Joseph Chalom, the company's Co-Chief Executive Officer.

A.G.P./Alliance Global Partners serves as lead placement agent for the offering, with Societe Generale as co-placement agent. Cantor acts as financial advisor to the company.

The offering operates under an effective shelf registration statement on Form S-3ASR filed with the Securities and Exchange Commission, which was declared effective on May 30, 2025. A prospectus supplement and accompanying prospectus will be filed with the SEC.

SharpLink Gaming, headquartered in Minneapolis, Minnesota, describes itself as one of the world's largest publicly traded companies to adopt Ether as its primary treasury reserve asset. The company also operates in the online gaming sector.

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