- Sharplink Gaming Inc. is launching a $1 billion stock offering with plans to use a substantial portion of the proceeds to buy Ethereum (ETH), signaling a major crypto bet.
- The offering involves up to 72 million shares, and will be conducted as an “at-the-market” sale, allowing the company to issue shares gradually in response to market conditions.
- Aside from ETH purchases, Sharplink will use the funds for general business needs like operating expenses, working capital, and expanding its affiliate marketing operations.
Sharplink Gaming Inc. has kicked off a bold new move—a massive stock offering that could raise up to $1 billion, and most of that money? Yeah, it’s going straight into Ethereum. The company made its intent super clear in a fresh filing: it plans to use a “substantial amount” of those proceeds to stack up on ETH.
Filing Details Reveal Ambitious Stock Sale
In its S-5 prospectus filed on May 29, Sharplink revealed plans to offer up to 72,051,288 shares of common stock. Based on a sample sale of just over 12.6 million shares priced at $79.21 (the last Nasdaq trading price), they’re looking at hitting that $1 billion mark in gross proceeds. That’s a serious amount of firepower aimed at crypto.
ETH First, But Not the Only Priority
While Ethereum is clearly the star of this strategy, it’s not the whole story. Sharplink’s also planning to use part of the funds for general business expenses—stuff like boosting working capital, covering ops costs, and beefing up its core affiliate marketing game. It’s a crypto play, sure, but it’s also a broader growth strategy.
Flexibility Built Into the Offering
What makes this offering even more interesting is the structure. It’s an “at-the-market” setup, meaning Sharplink can sell shares over time as conditions shift. No rush to dump all the shares at once. That gives them some real flexibility as they balance market timing with their ETH buy-up and business expansion goals.
