Sharplink Gaming plans to issue $5 billion in stock to acquire ETH

ChainCatcher news, according to Bitcoin.com News, online gaming marketing company Sharplink Gaming Inc. has filed documents with the U.S. Securities and Exchange Commission (SEC), planning to raise up to $5 billion in common stock, with the "vast majority" of the funds intended for purchasing Ether (ETH) as part of its corporate treasury assets. This issuance will expand its potential total stock issuance under the agreement with A.G.P./Alliance Global Partners to $6 billion.
Sharplink announced back in May that it would adopt ETH as its primary financial reserve asset, citing reasons such as diversifying its reserve structure, enhancing capital efficiency, and aligning with new financial technology trends. The company is currently listed on NASDAQ under the ticker symbol "SBET."