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Get filing alertsSharplink raises $75M at 41% premium to buy Ethereum, fund buybacks; issues warrants
Filed June 23, 2026 · Period ending June 22, 2026 · ~1 min read
Key Changes
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high
Sold 10M shares at $7.49 to institutional investor, 41% above June 18 close of $5.29, raising $75M gross to acquire Ethereum and repurchase stock under existing program.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
high
Issued 10M warrants exercisable at $8.15 for four years; full exercise would raise additional $81.6M but dilute existing holders by ~10M shares.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Offering priced above net asset value of company's 875,776 ETH holdings as of June 16, 2026, which management views as validation of active treasury strategy.
Exhibit 99.1 view on EDGAR → -
low
Company restricted from issuing additional securities or filing new registration statements for 15 days post-close, subject to exceptions.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
Summary
Sharplink completed a $75 million registered direct offering on June 23, 2026, selling 10 million shares at $7.49 each—a 41% premium to its June 18 closing price. The company intends to use proceeds to acquire Ethereum cryptocurrency and fund share buybacks under its existing repurchase program.
Management emphasized that raising capital above the net asset value of its existing 875,776 ETH holdings allows it to increase per-share ETH exposure on an accretive basis while maintaining financial flexibility. The offering included 10 million warrants exercisable at $8.15 per share over four years.
If fully exercised, these warrants would generate an additional $81.6 million but would also dilute existing shareholders by approximately 10 million shares. The premium pricing and warrant structure suggest investor confidence in the company's treasury strategy, though the decision to hold cryptocurrency on the balance sheet introduces volatility risk tied to ETH price fluctuations. The 15-day issuance restriction is a standard investor protection measure.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Sharplink raised $75M via registered direct offering to buy Ethereum and fund buybacks; issued warrants for potential $81.6M more.
Added in current filing · verify on EDGAR →
The Company intends to use the net proceeds received from the Offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH” as well as for general working capital purposes, including but not limited to repurchasing the Company’s Common Stock, pursuant to the Company’s stock repurchase program.
The company plans to use the net proceeds to acquire Ethereum (ETH) cryptocurrency and for general working capital, including potential share buybacks under its existing repurchase program. This represents a strategic shift toward holding cryptocurrency on the balance sheet, which introduces volatility risk from crypto price fluctuations.
Show 2 minor / wording changes
Added in current filing · verify on EDGAR →
On June 22, 2026, the Company entered into a placement agent agreement (the “Placement Agent Agreement”) with A.G.P./Alliance Global Partners (“A.G.P.”), as sole placement agent (the “Placement Agent”), pursuant to which the Company engaged the Placement Agent as the exclusive placement agent in connection with the Offering. Pursuant to the Placement Agent Agreement, the Company will pay the Placement Agent a cash fee equal to 2.0% of the aggregate gross proceeds raised from the sale of the Securities sold in the Offering.
The company engaged A.G.P./Alliance Global Partners as placement agent and will pay a 2.0% fee on gross proceeds, which amounts to approximately $1.5 million on the $75 million raised.
Added in current filing · verify on EDGAR →
The Purchase Agreement also contains customary conditions to closing, termination rights of the parties, certain indemnification obligations of the Company and ongoing covenants of the Company, including a restrictions on the issuance of securities and the filing of registration statements for a period of 15 days following the closing of the Offering, subject to certain exceptions.
The company agreed to a 15-day restriction on issuing additional securities or filing new registration statements following the offering close, subject to certain exceptions. This is a standard lock-up provision to protect the investor from immediate dilution.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
it has entered into a securities purchase agreement with an institutional investor (the “Investor”) for the purchase and sale of 10,013,351 shares of its common stock, par value $0.0001 per share (the “Shares), and accompanying warrants to purchase up to 10,013,351 shares of common stock (the “Warrants”), at a combined purchase price of $7.49 per Share and Warrant. The purchase price represents a 41% premium to the Company’s closing share price of $5.29 on June 18, 2026 (the “Closing Share Price”), as reported on the Nasdaq Capital Market
Sharplink sold 10,013,351 shares plus warrants to an institutional investor at $7.49 per unit, representing a 41% premium to the June 18, 2026 closing price of $5.29. The warrants have an exercise price of $8.15, are immediately exercisable, and expire in four years. The aggregate gross proceeds are approximately $75 million before fees.
Added in current filing · verify on EDGAR →
The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes, including, but not limited to, the accumulation of additional ETH and the repurchase of the Company’s common stock pursuant to the Company’s stock repurchase program.
The company plans to use net proceeds for working capital, accumulating additional Ether (ETH), and repurchasing common stock under its existing buyback program. Management emphasized that issuing equity above the value of existing ETH holdings supports increasing ETH exposure on an accretive per-share basis while preserving financial flexibility.
Show 1 minor / wording change
Added in current filing · view on EDGAR →
The closing of the Offering is expected to occur on or about Tuesday, June 23, 2026, subject to the satisfaction of customary closing conditions.
The offering is expected to close on June 23, 2026, subject to customary conditions. A.G.P./Alliance Global Partners is acting as sole placement agent.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 25, 2026 · How we verify