SharpLink Gaming has launched a public offering aimed at raising around $4.5 million through the sale of more than 1.5 million shares. The offering, described as a “reasonable best efforts” deal, is expected to close by May 21, 2025, pending standard conditions.
Good to know
- The funds will support general operations and working capital needs.
- SharpLink has until May 23, 2025, to meet Nasdaq’s listing requirements.
- A recent $500,000 investment secured a 10% stake in CryptoCasino’s parent company.
The company plans to use the net proceeds from the offering for working capital, corporate operations, and any additional uses outlined in its SEC-filed prospectus. The move comes just weeks ahead of a key compliance deadline set by Nasdaq.
In March, the Nasdaq Listing Qualifications Panel granted SharpLink an extension to meet the exchange’s minimum listing standards. Under Nasdaq rules, listed companies must keep a minimum bid price of $1 per share and maintain stockholders’ equity of at least $2.5 million.
The extension gives SharpLink until May 23 to regain compliance. Whether the current offering affects this status remains unclear at the time of reporting.
Back in March, before the Nasdaq extension, SharpLink Gaming also disclosed the $500,000 acquisition of a 10% equity interest in Armchair Enterprises Limited, the company behind the CryptoCasino brand.
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