The Treasury’s second largest publicly traded ether firm, Sharplink Gaming (SBET), is raising $76.5 million in a direct stock offering priced above the market.
The Minneapolis-based company said in a Press Release It sold 4.5 million shares at $17 per share, a 12% premium to the $15.15 closing price on October 15.
The sale price also reflects a premium to the company’s net asset value of 840,124 ETH Holdings, reflecting what the company called “strong institutional confidence” in its strategy.
An unnamed institutional investor bought the shares and received a 90-day option to buy another 4.5 million shares at $17.50.
The firm’s ether holdings are second only to bitmine immersion Technologies (BMNR), which currently has 3.03 million ETH in its Treasury.
SBET was higher by 3.7 to $15.57 in early Thursday trading along with a moderate bounce in the price of ETH to return above $4,000.
