SharpLink Gaming, Inc. (Nasdaq: SBET) announced the pricing of a $76.5 million registered direct offering at a 12% premium to its market price, reflecting institutional interest in the company’s Ethereum-based treasury approach.
The Minneapolis-based firm, one of the world’s largest corporate holders of Ether (ETH), sold 4.5 million shares at $17.00 each, exceeding its October 15 closing price of $15.15.
The deal also includes a 90-day premium purchase contract, allowing investors to buy up to an additional 4.5 million shares at $17.50 per share, a 19% premium to market. If fully exercised, the contract would bring SharpLink an additional $78.8 million. The proceeds will be directed toward further ETH accumulation and operational expansion.
Co-CEO Joseph Chalom said the transaction “reflects strong institutional confidence” and called it a “strategically structured, accretive” raise that supports SharpLink’s long-term focus on Ethereum adoption. The company currently holds over 840,000 ETH, aligning its treasury with what it describes as “the future of digital capital.”
ETH holdings growth aligns with corporate adoption
This latest capital raise builds on SharpLink’s recent milestone of surpassing $900 million in unrealized ETH profits. Earlier this month, the firm confirmed that all its Ethereum holdings are now staked to generate yield, with plans to create ETH-denominated revenue streams to boost exposure and valuation.
The move also comes as SharpLink positions itself against Ethereum exchange-traded funds (ETFs), emphasizing its ability to “stake 100% of its ETH” and capture higher yields than regulated funds can offer.
By securing new capital at a premium valuation, SharpLink is effectively doubling down on Ethereum’s long-term potential as both a treasury asset and a revenue engine. As its ETH per-share ratio climbs, the firm’s model highlights how public companies can use blockchain assets not just for speculation, but as part of their financial operations.
The raise reflects an institutional adoption to Ethereum, as companies integrate staking and tokenization into treasury management. SharpLink’s premium-backed sale could signal a new model bridging traditional finance and decentralized markets.
Also read: SharpLink Teams with Superstate to Launch Tokenized SBET Stock
