SharpLink applies for $1 billion securities issuance…“To be used for ETH purchase”

SharpLink Gaming has submitted registration documents to the U.S. Securities and Exchange Commission (SEC) to issue securities worth up to $1 billion. The funds raised are expected to be used for the purchase of Ethereum (ETH) and for general operating expenses.

On the 30th (local time), SharpLink Gaming submitted a Form S-3 ASR to the SEC, requesting approval to issue securities worth up to $1 billion in various ways in the future. The S-3 ASR allows listed companies that meet certain requirements to flexibly raise capital without prior approval.

The company announced in its disclosure on the same day, “A significant portion of the proceeds will be used to acquire Ethereum,” adding, “The remainder will be used as general corporate operating funds.”