SharpLink Gaming To Raise $76.5M Through Equity Offering: Retail Sees No Reason To Cheer

The transaction is expected to close on or around October 17, pending customary conditions.

SharpLink Gaming Inc. (SBET) announced on Thursday that it has signed a securities purchase agreement with an institutional investor for the sale of 4.5 million common shares at $17.00 each, marking a 12% premium over the closing price on October 15.

The transaction is expected to close on or around October 17, 2025, pending customary conditions. The company expects $76.5 million in proceeds from the offering. 

Alongside the initial investment, the institutional buyer secured a 90-day premium purchase contract (PPC) to acquire up to another 4.5 million shares at $17.50 per share. If fully exercised before its Jan. 15, 2026, expiration, SharpLink could raise an additional $78.8 million in gross proceeds.

After the announcement, SharpLink Gaming stock traded over 3% higher on Thursday, after the morning bell. However, on Stocktwits, retail sentiment around the stock remained in ‘bearish’ territory amid ‘low’ message volume levels. 

SharpLink, which has built a significant ETH portfolio, has consistently framed its Ethereum exposure as a core component of its strategy. The company’s current ETH holdings stand at 840,124. “By raising equity at a meaningful premium to both market price and NAV, we’re able to continue accumulating ETH and increasing ETH-per-share for our investors,” said Co-CEO Joseph Chalom. 

Additionally, Citizens JMP has initiated coverage of SharpLink Gaming with an ‘Outperform’ rating and a price target of $50 per share, representing an upside potential of more than 200% from current trading levels, citing the company’s unique position within the Ethereum ecosystem, according to TheFly. 

SharpLink Gaming stock has gained over 101% in 2025 and over 65% in the last 12 months. 

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