Joseph Lubin, chairperson of the board of directors of SharpLink and CEO and founder of ConsenSys, said in an interview that SharpLink has been selling its shares at ATM (At-The-Market) so far, which has resulted in the dilution of SBET investors. This has caused panic and concern, causing the share price to fall from $37 to below $20 in less than two weeks.
SharpLink's issuance of convertible notes means they will be able to raise capital without immediately diluting their equity (convertible bonds carry debt risk and may generate future dilution after conversion), but in the short term, this could stabilize SBET (less shares entering the market).
SharpLink board chairperson: is considering financing through convertible notes to stabilize share price
2025-08-01 06:34:08
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