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SharpLink to issue up to 6 billion Dollar in stock for additional purchase of ETH.
SharpLink Gaming (SBET), which is listed on Nasdaq, announced on the 18th that it has raised the upper limit for the issuance of common stock to $6 billion. This expansion of the funding limit is through an ATM (at-the-market stock sale) agreement with brokerage A.G.P.
Approximately $720 million worth of shares have already been sold, and the funding is being used for acquiring Ethereum, operating affiliate-related businesses, and for business capital.
Recently, on July 16, an additional purchase of 20,279 ETH (equivalent to $68.38 million) was made. The ETH holdings have reached approximately 321,000 ETH.
The company announced on the 15th that it had raised approximately $413 million and purchased 74,656 ETH between the 7th and 13th of this month. They are actively continuing their ETH acquisition activities in the market and are staking almost all of the ETH purchased.
SharpLink has reinforced its policy of focusing on Ethereum as its core asset since the end of May. The company's chairman is Joseph Lubin, co-founder of Ethereum and MetaMask.