SharpLink Approves Share Buyback Plan…Up to $1.5 Billion Purchase Possible if Share Price Falls
Summary
- SharpLink announced it has approved a share buyback program worth up to $1.5 billion.
- The company stated that it will repurchase shares when the share price is lower than the value of held Ethereum (ETH) in order to prevent a decline in shareholder value.
- The specific timing and size of the buybacks will be adjusted depending on market conditions and trading volumes, and the program may be suspended flexibly.
SharpLink Gaming, which declared plans to accumulate Ethereum (ETH), has announced a large-scale share repurchase plan.
On the 22nd (local time), SharpLink announced via its official website that its board of directors has approved a share repurchase program of up to $1.5 billion. The company stated, "If the share price trades below the value of held Ethereum (ETH), we may buy back shares to prevent a decline in shareholder value," and added, "Through this, we aim to utilize capital efficiently and enhance long-term shareholder returns."
SharpLink can purchase shares on the open market, through private transactions, or in any legally allowed manner under this program, with the specific timing and size of purchases to be adjusted based on market conditions and trading volumes.
Joseph Chalom, SharpLink Co-CEO, said, "This program provides the flexibility to respond quickly and decisively depending on the market situation."
The company also clarified that it is not obligated to buy a specific number of shares and that the program may be suspended if necessary.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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