US Sharp Link expands Ethereum Holdings with $200 million funding.

## Stock Price bounce back

SharpLink Gaming (NASDAQ: SBET) announced on August 7 that it has entered into a securities purchase agreement with four institutional investors. The direct offering at $19.50 per share is expected to raise approximately $200 million, with the transaction scheduled to be completed around August 8.

The raised funds will be投入 into the company's Ethereum (ETH) treasury expansion, and the holding value after deployment is expected to exceed $2 billion. Currently, they hold 521,900 ETH, establishing their position as one of the world's largest publicly listed companies holding ETH.

Joseph Chalom, co-CEO, commented, "We welcome the participation of globally recognized institutional investors, and our mission to lead the world in ETH treasury has been further validated." In July, he took on the role of co-CEO in charge of ETH strategy, having previously been an executive at BlackRock.

The company is transitioning from a gaming company led by ConsenSys founder Joe Lubin to a cryptocurrency treasury firm. As part of the cryptocurrency treasury firm trend that started in the first half of this year, it is adopting an ETH-focused strategy.

A.G.P./Alliance Global Partners serves as the lead underwriter, with Société Générale acting as the co-underwriter, and Kantar participating as the financial advisor. Against the backdrop of strong interest from institutional investors, large capital inflows into the ETH market are expected to continue.

Ethereum (ETH) News & Price

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