SharpLink Gaming Announces $200 Million Direct Offering to Expand ETH Treasury
SharpLink Gaming, Inc. said Thursday it has entered into securities purchase agreements with four institutional investors in a registered direct offering expected to raise approximately $200 million. The deal, priced at $19.50 per share under Nasdaq rules, is scheduled to close on or about Aug. 8, subject to customary conditions. The company trades on the Nasdaq under the ticker SBET. Proceeds to Bolster Ethereum Holdings SharpLink said net proceeds from the offering will be used to increase its holdings of Ether, the cryptocurrency that operates on the Ethereum blockchain. The company expects its ETH treasury to exceed $2 billion in value once the funds are deployed. The move aligns with SharpLink’s stated strategy of maintaining one of the largest corporate reserves of Ether. The firm has positioned itself as an advocate for wider adoption of the Ethereum network in various industries. Placement Agents and Regulatory Filings A.G.P./Alliance Global Partners is serving as lead placement agent for the offering, with Societe Generale acting as co-placement agent. Cantor is serving as financial advisor to SharpLink. The offering is being conducted under an effective shelf registration statement on Form S-3ASR, which was declared effective by the U.S. Securities and Exchange Commission on May 30. A prospectus supplement and related documents will be filed with the SEC and made available through its public website. SharpLink emphasized that the announcement does not constitute an offer or solicitation to sell securities in jurisdictions where such activity would be unlawful.
Bakkt to Acquire 30% Stake in Japan’s MarushoHotta, Plans Bitcoin Treasury Shift
On August 6, Bakkt Holdings, Inc., announced it has agreed to purchase roughly 30% of MarushoHotta Co., Ltd., a Tokyo Stock Exchange-listed firm, becoming its largest shareholder and paving the way for a strategic shift toward Bitcoin and other digital assets. The deal, reached with RIZAP Group, Inc., positions Bakkt to take a significant role in reshaping MHT’s financial operations. As part of the agreement, Phillip Lord, president of Bakkt International, will assume the role of chief executive officer at MHT. Digital Asset Focus and New Domain Acquisition Under the planned changes, MHT intends to begin investing in Bitcoin and other digital assets as part of its corporate treasury strategy. In a move aligned with that shift, Bakkt has acquired the web domain bitcoin.jp. If approved by MHT shareholders, the company will adopt the domain name as its new corporate identity. Bakkt co-CEO Akshay Naheta said Japan’s regulatory framework provides a favourable setting for developing a Bitcoin-centred business model. The company expects to work with MHT’s existing team to integrate digital assets into both operational and financial planning. Shareholder Approval Pending The agreement is subject to approval by MHT’s shareholders. If cleared, the transaction will give Bakkt a controlling influence over the company’s direction without taking a majority stake. Marusho Hotta, traded under ticker 8105 on the TSE, has historically operated in the wholesale and retail sectors. The pending changes mark a notable shift toward digital finance, underscoring the growing interest among Japanese firms in cryptocurrency adoption. The transaction terms were not disclosed, and Bakkt did not provide a timeline for the completion of the deal.
