Based in the United States, SharpLink Gaming is a sports betting company that has made headlines with its $1 billion stock offering, intended to support a substantial Ethereum (ETH) purchase.
With intentions to allocate most of the proceeds towards acquiring Ethereum and creating an Ethereum-based treasury strategy, the company has filed with the SEC offering up to $1 billion in common stock.
Following a recent successful private placement in which SharpLink raised $425 million by selling around 69 million shares at $6.15 each, this strategic change will be utilized for an initial acquisition of ETH. The announcement has caused the company’s stock to soar astonishingly by over 400%.
