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SharpLink Gaming completes a $425 million private sale led by Consensys.
Gate News bot message, SharpLink Gaming has completed a $425 million private sale led by Consensys Software. The funds will be used to purchase Ether (ETH) and establish ETH as the company's primary reserve asset.
According to previous reports, SharpLink Gaming submitted Form S-3 ASR to the U.S. SEC, registering a total size of up to $1 billion in securities for the future issuance of common stock depending on market conditions.
After this issuance, the maximum number of ordinary shares issued may reach 72,051,288 shares. The majority of the proceeds from this issuance will be used to purchase Ether (ETH), and there are also plans to use the funds raised from this issuance for working capital needs, general corporate purposes, operating expenses, and more.
Source: Cointelegraph