SharpLink Gaming prices 69.1M shares at $6.15 in private placement

SharpLink Gaming (SBET)has entered into securities purchase agreements for a private investment in public equity for the purchase and sale of 69,100,313 shares of common stock at a price of $6.15 per share for expected aggregate gross proceeds of approximately $425,000,000, before deducting placement agent fees and other offering expenses. Consensys Software 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, 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.