SharpLink Sets $76.5M Direct Offering at 12% Above Market Value

Highlights:

• SharpLink sets $76.5M direct offering for 4.5 million shares at 12% above market value.
• The company could raise an additional $78.8 million if the investor exercises another option, 4.5 million shares at $17.50 per share.
• SharpLink said the offering will be conducted under its effective shelf registration statement on Form S-3ASR.

SharpLink Gaming, one of the largest corporate holders of Ethereum (ETH), has secured a new funding deal with a major institutional investor. The company announced in a press release on October 16, highlighting strong confidence in SharpLink and Ethereum’s sustainability potential as a store of value.

Under the agreement, SharpLink will sell 4.5 million shares at $17.00 per share, a 12% premium over its October 15 closing price of $15.15. The company expects to raise roughly $76.5 million from the sales scheduled to close around October 17, 2025, pending standard conditions.

The deal also includes a 90-day premium purchase contract (PPC). With this, the investor could buy an additional 4.5 million shares at $17.50 per share, representing a 19% increase from SharpLink’s last closing price. This second option expires on January 15, 2026, and could raise an additional $78.8 million if fully exercised.

According to the press release, SharpLink will conduct the offering under its effective shelf registration statement on Form S-3ASR, approved by the United States Securities and Exchange Commission (SEC) on May 30, 2025. Under this statement, SharpLink will issue the shares, the PPC, and shares underlying the PPC as part of a registered direct offering. A.G.P./Alliance Global Partners will serve as the sole placement agent, while Thompson Hine LLP will provide legal advice to SharpLink. Sullivan & Worcester LLP will act as legal advisor to A.G.P./Alliance Global Partners.

We’ve raised $76.5M by issuing equity at $17 per share (12% premium to market), with the potential for ~$79M more though a novel 90-day premium purchase contract at $17.50 per share (19% premium) – the first of its kind in the DAT ecosystem.

– SharpLink sold equity at both a… pic.twitter.com/adqRIF90GJ

— SharpLink (SBET) (@SharpLinkGaming) October 16, 2025

Co-CEO Highlights Significance of SharpLink’s $76.5M Direct Offering

Joseph Chalom, SharpLink’s Co-CEO, described the offering as a new and creative kind of stock sale. Explaining further, the Co-CEO noted that the offering adds value to existing shareholders instead of diluting their ownership.

Chalom also mentioned that SharpLink sold its shares above their market value, raising more money to accumulate ETH without giving away shares cheaply. The Co-CEO added that each shareholder will indirectly hold more ETH per share, since the company’s total Ethereum reserves expand faster than its number of outstanding shares.

Chalom also expressed optimism about Ethereum’s growing adoption. “Each day brings new evidence of accelerating retail and institutional adoption of Ethereum across stablecoins, tokenized assets and DeFi. We remain bullish on the long-term Ethereum opportunity,” he stated.

SharpLink’s ETH Holdings Reach 840K Tokens

On October 14, SharpLink Gaming tweeted that its ETH holdings increased to 840,124 tokens after earning 488 ETH in staking rewards. “That brings our total cumulative rewards to 5,211 ETH (>$20M at today’s prices) since launching our treasury strategy,” the company added.

NEW: SharpLink’s holdings rise to 840,124 ETH, with 488 $ETH generated from staking rewards last week.

That brings our total cumulative rewards to 5,211 $ETH (>$20M at today’s prices) since launching our treasury strategy.

The asset is $ETH, the ticker is $SBET. pic.twitter.com/kIwa0Yc1WS

— SharpLink (SBET) (@SharpLinkGaming) October 14, 2025

On the SharpLink ETH dashboard, the company paid an average of $3,603 per token. The company’s total portfolio value is about $3.5 billion, with roughly $294 million in unrealized profits. At the time of writing, Ethereum is trading at $3,887 following a 3% decline in the past 24 hours.

Within the same timeframe, Ethereum fluctuated between $3,836.72 and $4,068.79 with a 24-hour trading volume of $44.76 billion. Sentiment on ETH has remained bearish, with its “Fear & Greed Index” displaying extreme fear at 22. Volatility remains high at 5.5% with dominance at 12.75%.