SBET - SharpLink Gaming raises $10M in equity offering

SharpLink Gaming (NASDAQ:SBET) slides 9% premarket as it entered into a securities purchase agreement with an institutional investment firm which is an existing SharpLink shareholder. Pursuant to the agreement, the Investor is purchasing ~1.41M of the Co.’s ordinary shares at a purchase price of $3.75/share and pre-funded a warrant to purchase up to ~1.25M ordinary shares at a funding amount of $3.74/share and an exercise price of $0.01/share, for gross proceeds of $10M. Net proceeds of ~$9.9M will be used for supporting its technology and business development initiatives, as well as for general working capital purposes. The offering is expected to close on or about Nov. 19, 2021. SBET -8.98% premarket to $3.75.

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SharpLink Gaming raises $10M in equity offering