Crypto Shares Shine. SharpLink Gaming up 45%; Bakkt Holdings up 13%; MARA, Strategy, Coinbase up over 4%

Tiger Newspress
03 Jun

Crypto shares shined. SharpLink Gaming soared 45% as it registerd $1B for Ethereum acquisition; Bakkt Holdings up 13%; MARA, Strategy, Coinbase up over 4%.

SharpLink Gaming plans to offer up to $1 billion worth of shares of common stock in order to buy Ethereum to boost its holdings, continuing its efforts to build an Ether treasury.

According to an SEC filing, the U.S.-based company plans to issue up to 72.05 million shares of common stocks. These stock will be marked under the symbol “SBET.” As much as 12.6 million shares in the offering will be valued at $79.21 per share, as per the reported sale price registered to Nasdaq on May 29.

However, the actual number of shares the company plans to issue will depend on how many they decide to sell and how much the price offering will be.

Within the document, SharpLink Gaming declared that it would use the entirety of funds generated from the stocks offering to buy Ethereum (ETH). The decision aligns with the firm’s earlier announcement back in May

“We intend to use substantially all of the proceeds from this offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH,” wrote SharpLink Gaming in the filing.

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