Core Viewpoint - SharpLink Gaming, Inc. has entered into a securities purchase agreement with an institutional investor to sell 4.5 million shares at a price of $17.00 per share, representing a 12% premium to the closing share price on October 15, 2025, and a significant premium to the net asset value of its Ether holdings [1][2][3] Group 1: Offering Details - The total gross proceeds from the registered direct offering are expected to be $76.5 million, with the closing anticipated on or about October 17, 2025, subject to customary conditions [1] - The investor has also been granted a 90-day premium purchase contract to buy an additional 4.5 million shares at an exercise price of $17.50 per share, which represents a 19% premium to the closing share price [2] Group 2: Strategic Implications - The equity sale is described as accretive to stockholders and reflects strong institutional confidence in SharpLink's long-term vision, allowing the company to continue accumulating Ether and increasing Ether-per-share for investors [3] - The company remains optimistic about the long-term opportunities in Ethereum, citing evidence of accelerating retail and institutional adoption across various sectors [3] Group 3: Regulatory and Legal Framework - The offering is being conducted under an effective shelf registration statement declared effective by the SEC on May 30, 2025, and will be made only by means of a prospectus supplement [4] - A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering, with legal advisors from Thompson Hine LLP and Sullivan & Worcester LLP [5]