On May 31st, SharpLink Gaming officially filed an S-3 ASR securities registration form with the US Securities and Exchange Commission (SEC), and signed an "at-the-market" (ATM) stock sales agreement with A.G.P. According to this agreement, A.G.P. will be permitted to issue and sell SharpLink Gaming's common stocks with a total value of up to 1 billion USD.
Most of the funds raised from this stock offering will be used to purchase Ethereum (ETH) – the native cryptocurrency of the Ethereum blockchain network. Additionally, SharpLink Gaming also plans to use part of the capital from this transaction for working capital needs, operating expenses, business expansion, and other general purposes.
Shortly before, SharpLink Gaming announced the signing of a stock sales agreement in a private investment round worth up to 425 million USD. In this transaction, ConsenSys Software Inc. – a company developing many critical infrastructures for the Ethereum ecosystem – played the role of the primary investor. In addition, many prominent Venture Capital funds in the cryptocurrency field such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital also participated. This transaction is expected to be completed on May 29th.
