This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
SharpLink Gaming’s shares plummeted over 70% in after-hours trading following an SEC filing related to its Ethereum treasury plan. The company had recently raised $425 million in a PIPE offering to establish the crypto treasury, mirroring a trend among public firms.
- SharpLink Gaming's stock fell over 70% after filing an S-3 prospectus, though Ethereum co-founder Joseph Lubin clarified it was a standard post-PIPE procedure.
- The company raised $425 million in a PIPE offering to establish an Ethereum treasury, following a trend set by firms like MicroStrategy.
- Major crypto investors, including Consensys and Galaxy Digital, participated in the PIPE, buying shares at $6.15 each.
📎 Related coverage from: decrypt.co