SharpLink Gaming Announces $425,000,000 Private Placement to Initiate Ethereum Treasury Strategy
SharpLink Gaming (NASDAQ:SBET) has announced a significant $425 million private placement through a PIPE offering, selling approximately 69.1 million shares at $6.15 per share ($6.72 for management). Consensys Software leads the investment, joined by notable crypto venture firms including ParaFi Capital, Electric Capital, and Pantera Capital.
The company plans to use the proceeds to acquire Ethereum (ETH) as its primary treasury reserve asset. Upon the offering's closing, expected around May 29, 2025, Joseph Lubin, Ethereum Co-Founder and Consensys CEO, will become SharpLink's Chairman of the Board. The private placement is being conducted under Securities Act exemptions, with A.G.P./Alliance Global Partners serving as the sole placement agent.
SharpLink Gaming (NASDAQ:SBET) ha annunciato un'importante collocazione privata da 425 milioni di dollari tramite un'offerta PIPE, vendendo circa 69,1 milioni di azioni a 6,15 dollari ciascuna (6,72 dollari per il management). Consensys Software guida l'investimento, affiancata da rinomati fondi di venture crypto come ParaFi Capital, Electric Capital e Pantera Capital.
L'azienda prevede di utilizzare i fondi raccolti per acquistare Ethereum (ETH) come principale riserva di tesoreria. Al momento della chiusura dell'offerta, prevista intorno al 29 maggio 2025, Joseph Lubin, cofondatore di Ethereum e CEO di Consensys, assumerà la carica di Presidente del Consiglio di Amministrazione di SharpLink. La collocazione privata viene effettuata in base alle esenzioni previste dal Securities Act, con A.G.P./Alliance Global Partners come unico agente di collocamento.
SharpLink Gaming (NASDAQ:SBET) ha anunciado una colocación privada significativa de 425 millones de dólares a través de una oferta PIPE, vendiendo aproximadamente 69,1 millones de acciones a 6,15 dólares por acción (6,72 dólares para la gerencia). Consensys Software lidera la inversión, acompañada por reconocidas firmas de capital riesgo en criptomonedas como ParaFi Capital, Electric Capital y Pantera Capital.
La compañía planea utilizar los fondos para adquirir Ethereum (ETH) como su principal activo de reserva en tesorería. Al cierre de la oferta, previsto alrededor del 29 de mayo de 2025, Joseph Lubin, cofundador de Ethereum y CEO de Consensys, asumirá el cargo de presidente del consejo de administración de SharpLink. La colocación privada se realiza bajo exenciones de la Ley de Valores, con A.G.P./Alliance Global Partners como único agente colocador.
SharpLink Gaming (NASDAQ:SBET)이 약 4억 2,500만 달러 규모의 사모 발행을 PIPE 방식으로 발표했으며, 약 6,910만 주를 주당 6.15달러(경영진은 6.72달러)에 판매합니다. Consensys Software가 투자를 주도하며, ParaFi Capital, Electric Capital, Pantera Capital 등 유명 암호화폐 벤처사들도 참여했습니다.
회사는 조달 자금을 주요 재무 준비 자산으로 이더리움(ETH)을 매입하는 데 사용할 계획입니다. 2025년 5월 29일경로 예상되는 이번 발행 마감 시 Joseph Lubin 이더리움 공동 창립자이자 Consensys CEO가 SharpLink 이사회 의장으로 취임할 예정입니다. 이번 사모 발행은 증권법 예외 조항에 따라 진행되며, A.G.P./Alliance Global Partners가 단독 배정 대행사로 활동합니다.
SharpLink Gaming (NASDAQ:SBET) a annoncé un placement privé significatif de 425 millions de dollars via une offre PIPE, vendant environ 69,1 millions d'actions à 6,15 dollars par action (6,72 dollars pour la direction). Consensys Software mène l'investissement, rejoint par des fonds de capital-risque crypto renommés tels que ParaFi Capital, Electric Capital et Pantera Capital.
La société prévoit d'utiliser les fonds pour acquérir Ethereum (ETH) comme principal actif de réserve de trésorerie. À la clôture de l'offre, prévue aux alentours du 29 mai 2025, Joseph Lubin, cofondateur d'Ethereum et PDG de Consensys, deviendra président du conseil d'administration de SharpLink. Le placement privé est réalisé sous les exemptions de la Securities Act, avec A.G.P./Alliance Global Partners en tant qu'agent unique de placement.
SharpLink Gaming (NASDAQ:SBET) hat eine bedeutende Private Placement in Höhe von 425 Millionen US-Dollar im Rahmen eines PIPE-Angebots angekündigt und verkauft etwa 69,1 Millionen Aktien zu je 6,15 US-Dollar (für das Management 6,72 US-Dollar). Consensys Software führt die Investition an, unterstützt von namhaften Krypto-Venture-Firmen wie ParaFi Capital, Electric Capital und Pantera Capital.
Das Unternehmen plant, die Erlöse zur Anschaffung von Ethereum (ETH) als Hauptreservevermögen der Treasury zu verwenden. Nach dem voraussichtlichen Abschluss des Angebots um den 29. Mai 2025 wird Joseph Lubin, Mitgründer von Ethereum und CEO von Consensys, Vorsitzender des Vorstands von SharpLink. Die Privatplatzierung erfolgt unter Ausnahmen des Securities Act, wobei A.G.P./Alliance Global Partners als alleiniger Platzierungsagent fungiert.
- Substantial $425 million capital raise strengthens company's financial position
- Strategic partnership with Consensys and appointment of Ethereum Co-Founder Joseph Lubin as Chairman
- Participation from prominent crypto venture capital firms indicates strong institutional backing
- Management participation in the offering demonstrates confidence in the strategy
- Significant shareholder dilution due to issuance of 69.1 million new shares
- High risk exposure to cryptocurrency market volatility through ETH treasury strategy
- Departure from core business focus in sports betting and iGaming
- Regulatory uncertainties surrounding cryptocurrency investments
Insights
SharpLink's $425M fundraise to adopt Ethereum as treasury reserve represents a significant strategic pivot with major crypto industry backing.
SharpLink Gaming's announcement of a
What makes this particularly notable is the investment consortium. The round is led by Consensys Software (founded by Ethereum co-founder Joseph Lubin) and includes participation from nearly every major cryptocurrency venture capital firm including ParaFi, Electric Capital, Pantera, Galaxy Digital and others. This level of participation signals strong crypto industry confidence in this strategy.
The
This treasury strategy essentially transforms SharpLink into a publicly-traded vehicle with significant Ethereum exposure. While the company states it will continue its core business serving sports betting and iGaming industries, this move effectively creates a new investment thesis for the stock as an Ethereum proxy on public markets - similar to how MicroStrategy has become a Bitcoin proxy. The distinction is that SharpLink appears to have attracted significant backing from Ethereum ecosystem insiders, suggesting possible additional strategic developments beyond simply holding ETH in treasury.
SharpLink continues its online performance-based marketing company serving the U.S. sports betting and global iGaming industries
Upon the closing of the Private Placement, SharpLink will adopt an Ethereum Treasury Strategy
Joseph Lubin, the Founder and CEO of Consensys and Co-Founder of Ethereum, will become Chairman of the Board of Directors of the Company effective upon the closing of the private placement
MINNEAPOLIS, May 27, 2025 (GLOBE NEWSWIRE) -- SharpLink Gaming, Inc. (NASDAQ:SBET) (the "Company" or "SharpLink") today announced that it has entered into securities purchase agreements for a private investment in public equity (PIPE) for the purchase and sale of 69,100,313 shares of common stock (or common stock equivalents in lieu thereof) at a price of
Consensys Software Inc. acted as the lead investor, and the offering included participation by prominent crypto venture capital firms and infrastructure providers such as ParaFi Capital, Electric Capital, Pantera Capital, Arrington Capital, Galaxy Digital, Ondo, White Star Capital, GSR, Hivemind Capital, Hypersphere, Primitive Ventures, and Republic Digital among others including Rob Phythian, SharpLink’s CEO, and Robert DeLucia, SharpLink’s CFO.
The closing of the offering is expected to occur on or about May 29, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the funds to acquire the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH” pending identification of working capital needs and other general corporate purposes. ETH will serve as the Company’s primary treasury reserve asset.
A.G.P./Alliance Global Partners is acting as the sole placement agent in connection with the offering.
“This is a significant milestone in SharpLink’s journey and marks an expansion beyond our core business. On closing, we look forward to working with Consensys and welcoming Joseph to the Board,” said Rob Phythian, Founder and CEO of SharpLink.
“On close, Consensys looks forward to partnering with SharpLink to explore and develop an Ethereum Treasury Strategy and to work with them in their core business as a strategic advisor. This is an exciting time for the Ethereum community, and I am delighted to work with Rob and the team to bring the Ethereum opportunity to public markets,” said Joseph Lubin, Founder and CEO of Consensys and Co-Founder of Ethereum.
The offer and sale of the foregoing securities is being made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Advisors
Sullivan & Worcester LLP is acting as legal advisor to A.G.P./Alliance Global Partners.
Thompson Hine LLP is acting as legal advisor to SharpLink Gaming, Inc.
Baker Botts L.L.P. is acting as legal advisor to Consensys Software Inc.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink is a trusted marketing partner to leading sportsbooks and online casino gaming operators worldwide. Through its iGaming affiliate marketing network, known as PAS.net, SharpLink focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. SharpLink also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing websites designed to attract, acquire and drive local sports betting and online casino gaming traffic to its valued partners which are licensed to operate in each respective state. For more information, please visit www.sharplink.com.
Upon closing of the Private Placement, the Company will adopt an Ethereum Treasury Strategy.
About Consensys Software Inc.
Consensys is the leading Ethereum software company, building the infrastructure, tools, and protocols that power the world’s largest decentralized ecosystem. Founded in 2014 by Ethereum co-founder Joseph Lubin, Consensys has played a foundational role in Ethereum’s growth, from pioneering products like MetaMask and Linea to shaping protocol development and staking infrastructure. Today, Consensys continues to lead Ethereum’s evolution through strategic R&D, and direct contributions to network upgrades. With a global product suite, and deep roots across the ecosystem, Consensys is uniquely positioned to accelerate Ethereum’s role as the trust layer for a new global economy, one that is decentralized, programmable, and open to all.
Upon the closing of the Private Placement, Joseph Lubin, Founder and CEO of Consensys, is expected to become Chairman of the Board of Directors of the Company.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, statements regarding the anticipated closing of the offering, the Company’s anticipated use of the proceeds from the offering, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s satisfaction of closing conditions for the offering, fluctuations in the market price of ETH and any associated impairment charges that the Company may incur as a result of a decrease in the market price of ETH below the value at which the Company’s ETH are carried on its balance sheet, changes in the accounting treatment relating to the Company’s ETH holdings, the Company’s ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services including our ETH treasury strategy, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Contact Information:
INVESTOR AND MEDIA RELATIONS
ir@sharplink.com
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