SharpLink Board Chairman: Considering financing through convertible notes to stabilize stock price.

robot
Abstract generation in progress

On August 1, Joseph Lubin, Chairman of the Board of SharpLink and CEO and Founder of ConsenSys, stated in an interview that SharpLink has been selling its shares at ATM (At-The-Market) so far, which has led to the dilution of SBET investors' equity. This has sparked panic and concern, causing the stock price to fall from $37 to below $20 in less than two weeks. The issuance of Convertible Bonds by SharpLink means they will be able to raise funds without immediately diluting equity (. Convertible Bonds carry debt risks and may lead to future dilution upon conversion ), but in the short term, this may stabilize SBET (reducing the stock entering the market).

ATM-9.47%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)