SharpLink Gaming shares dip after $400M deal to boost Ether holdings

SharpLink Gaming shares closed trading on Monday down over 6.5% after striking a $400 million share purchase deal to buy more Ether.

SharpLink Gaming, a sports betting marketing firm turned Ether treasury company, closed the trading day at a loss on Monday after announcing a $400 million deal to help it buy more crypto.

SharpLink said on Monday it entered into a share purchase agreement with “five global institutional investors” that would help boost its Ether (ETH) holdings, which it added is “expected to exceed $3 billion in value.”

The deal sees its shares sold for $21.76 each for total proceeds of $400 million and is slated to close on Tuesday, subject to conditions.

Read more