Sharplink Gaming intends to use most of the proceeds from its proposed share sell-off to purchase Ether, according to a recent SEC filing.
US sports betting platform SharpLink Gaming has filed with the Securities and Exchange Commission (SEC) to offer up to $1 billion in shares of common stock in an effort to increase the holdings of its newly launched Ether treasury.
“We intend to use substantially all of the proceeds from this offering to acquire Ether, the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH,” SharpLink Gaming said in the May 30 filing.
“We also intend to use the proceeds from this offering for working capital needs, general corporate purposes, operating expenses and core affiliate marketing operations,” it said.
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