coindesk.com
The second-largest publicly traded ether treasury firm, SharpLink Gaming (SBET), has raised $76.5 million in a direct stock offering priced above market.
The Minneapolis-based company said in a press release it sold 4.5 million shares at $17 per share, a 12% premium over its $15.15 closing price on Oct. 15.
The sale price also reflected a premium to the company's net asset value of its 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 that of Bitmine Immersion Technologies (BMNR), which currently has 3.03 million $ETH in its treasury.
SBET is higher by 3.7 to $15.57 in early Thursday trade alongside a modest bounce in the price of $ETH to back above $4,000.