IL0010826191
SharpLink Gaming Granted Extension by Nasdaq Hearings Panel to Regain Compliance with Continued Listing Requirements
MINNEAPOLIS, March 26, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), an online performance-based marketing company serving the U.S. sports betting and global iGaming industries, today announced that it received notice from the Nasdaq Listing Qualifications Panel (the “Hearings Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Hearings Panel has granted the Company additional time to achieve compliance with the minimum bid price requirement as set forth in Listing Rule 5550(a)(2) (the “Bid Price Rule”), which requires issuers to maintain a minimum bid price of $1.00 per share on the Nasdaq; and Listing Rule 5550(b)(1), which requires listed issuers to maintain minimum stockholders’ equity of $2.5 million (the “Equity Rule”). Specifically, the Hearings Panel has agreed to provide the Company until May 23, 2025 to regain compliance with both the Bid Price Rule and the Equity Rule.
“We are delighted that the Hearings Panel approved of our plan and granted us the time we require to regain compliance and return to good standing with Nasdaq. We are moving forward with executing several important related initiatives and intend to work relentlessly to ensure that each of our compliance goals are achieved,” stated Rob Phythian, Chairman and Chief Executive Officer of SharpLink.
As previously disclosed in the Company’s Annual Report on Form 10-K/A filed with the SEC on March 17, 2025, SharpLink requested and received a hearing with the Hearings Panel, which took place on February 25, 2025. Based on the information presented by SharpLink at the hearing, the Hearings Panel determined to grant the Company’s request for an exception to complete its compliance plan.
The Panel granted the Company’s request for continued listing on the Nasdaq, subject to the following:
- On or before May 23, 2025, the Company shall demonstrate compliance with Listing Rules 5550(a)(2), and 5550(b)(1);
- On or before May 23, 2025, the Company must file a public disclosure which describes any transactions undertaken by the Company to increase its equity and provides an indication of its equity following those transactions. The Company can do so by including in the public filing a balance sheet not older than 60 days with pro-forma adjustments for any significant transactions or events occurring on or before the report date. Alternatively, the Company can provide an affirmative statement in its public filing that, as of the date of the report, the Company believes it remains in compliance with the Equity Rule based upon the specific transactions or events described, after considering anticipated losses through that date. In this later case, the Company must also provide the Hearings Panel and Nasdaq Staff with a balance sheet not older than 60 days with pro-forma adjustments for all significant transactions or events occurring on or before the report date, including adjustments for anticipated losses, if any, incurred through the date of the balance sheet; and
- In addition, on or before May 23, 2025, the Company must provide the Hearings Panel with an update on its fundraising plans and updated income projections for the next 12 months, with all underlying assumptions clearly stated.
The Company’s Common Stock will remain listed and eligible for trading on Nasdaq during the period SharpLink works on demonstrating compliance with the Nasdaq listing rules.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink is a trusted marketing partner to leading sportsbooks and online casino gaming operators worldwide. Through its iGaming affiliate marketing network, known as PAS.net, SharpLink focuses on driving qualified traffic and player acquisitions, retention and conversions to U.S. regulated and global iGaming operator partners worldwide. In fact, PAS.net won industry recognition as the European online gambling industry’s Top Affiliate Website and Top Affiliate Program for four consecutive years by both igamingbusiness.com and igamingaffiliate.com. SharpLink also owns and operates a portfolio of direct-to-player, state-specific, affiliate marketing websites designed to attract, acquire and drive local sports betting and online casino gaming traffic to its valued partners which are licensed to operate in each respective state. For more information, please visit www.sharplink.com.
Forward-Looking Statements
This release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business through strategic growth opportunities, the potential benefits of the Company’s products, services and technologies and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, government regulation of online betting, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. The Company does not undertake any responsibility to update the forward-looking statements in this release.
CONTACT INFORMATION:
INVESTOR AND MEDIA RELATIONS
[email protected]
IL0010826191
SharpLink Aligns New Executive Appointment with Strategic Growth Through Time-Based and Performance-Based Equity Awards
MINNEAPOLIS, MN, Sept. 03, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today announced that the Compensation Committee of the Board of Directors approved certain equity awards to Joseph Chalom, the Company’s new Co-Chief Executive Officer as a material inducement for him to commence employment with the Company. The equity awards granted to Chalom were made pursuant to his previously disclosed employment agreement.
These awards were granted under the SharpLink Gaming, Inc. Inducement Award Plan as an employment “inducement grant” pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Award Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of SharpLink (or following a bona fide period of non-employment) as a material inducement for them to commence employment with SharpLink.
Specifically, Chalom received an award of time-based restricted stock units covering 295,590 shares and an award of performance-based restricted stock units covering 147,795 shares, in each case effective August 27, 2025. Each time-based award will vest over three years, with one-third of the units vesting on the first anniversary of Chalom’s employment commencement date and the remaining units vesting in equal quarterly installments over the next two years. Each performance-based award will vest on the third anniversary of Chalom’s employment commencement date, with payout ranging from 0% to 200% of the units, depending on the extent to which certain annual performance goals, as determined by the Compensation Committee, are achieved over a three-year performance cycle commencing July 1, 2025.
As announced on July 25, 2025, Chalom, a former BlackRock senior executive, was appointed as SharpLink’s new Co-Chief Executive Officer, effective July 24, 2025. He brings world class institutional leadership to the Company, having spent the past 20 years delivering digital finance innovations at BlackRock, including the launch of the iShares Ethereum Trust (ETHA), the largest Ethereum exchange traded product with over $10 billion in current assets.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies to adopt Ether (“ETH”) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the user experience. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to repurchase shares of SharpLink’s common stock, if any, in the open market through its new stock repurchase program, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for certain types of crypto assets, the Company may be required to record associated impairment charges reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected]
Media Contact:
[email protected]
Total Staking Rewards Increased to 2,318 ETH as of August 31, 2025
MINNEAPOLIS, MN, Sept. 02, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today issued its update on the Company’s ETH purchases for the period Monday, August 25, 2025 through Sunday, August 31, 2025; and capital raised through its At-the-Market (“ATM”) facility during the week Monday, August 25 through Friday, August 29, 2025.
“SharpLink continues to execute our treasury strategy with precision, successfully growing our ETH holdings to 837,230 and consistently earning staking rewards. We remain opportunistic in our capital raising initiatives and will continue to closely monitor market conditions to maximize shareholder value,” stated Joseph Chalom, Co-Chief Executive Officer of SharpLink.
Key Highlights for the Week Ending August 31, 2025:
- Purchased 39,008 ETH.
- $46.6 million in net proceeds were raised through the ATM facility this past week.
- Average ETH purchase price for the week was $4,531.
- Total ETH holdings increased to 837,230, currently valued at over $3.6 billion.
- Total staking rewards rose to 2,318 ETH since launch of treasury strategy on June 2, 2025.
- ETH Concentration rose to 3.94, up over 97% since June 2, 2025.
- Approximately $71.6 million cash and equivalents on hand.
Weekly ETH and Capital Summary
| Week Ending | ||||||||||||||||
| Units of ETH (K) | 8/10/25 | 8/17/25 | 8/24/25 | 8/31/25 | ||||||||||||
| Beginning Balance | 521.9 | 596.8 | 740.8 | 797.7 | ||||||||||||
| ETH Acquired | 74.8 | 143.6 | 56.5 | 39.0 | ||||||||||||
| ETH Staking Rewards | 0.1 | 0.3 | 0.4 | 0.5 | ||||||||||||
| Ending Balance | 596.8 | 740.8 | 797.7 | 837.2 | ||||||||||||
| Avg ETH Purchase Price | $ | 4,051 | $ | 4,648 | $ | 4,462 | $ | 4,531 | ||||||||
| ETH Concentration* | 3.59 | 3.87 | 3.80 | 3.94 | ||||||||||||
| ATM Shares Issued (m) | 13.5 | 6.6 | 18.6 | 2.4 | ||||||||||||
| ATM Net Proceeds ($m) | $ | 291.8 | $ | 146.5 | $ | 360.9 | $ | 46.6 | ||||||||
* To enhance transparency into the Company’s yield performance, SharpLink introduced a new reporting metric called “ETH Concentration.” This metric is calculated by dividing the number of ETH SharpLink holds by each 1,000 assumed diluted shares issued and outstanding (“Assumed Diluted Shares Outstanding”). Assumed Diluted Shares Outstanding represents the sum of (i) SharpLink’s actual shares of common stock issued and outstanding as of the end of each reporting period, inclusive of disclosed ATM sales, plus (ii) the additional shares that would be issued upon the assumed exercise or settlement of all outstanding warrants, pre-funded warrants, stock option awards, and restricted stock units. Notably, Assumed Diluted Shares Outstanding is not calculated using the treasury stock method. It does not account for equity award vesting conditions, stock option exercise prices, or contractual restrictions limiting the convertibility of debt instruments. Additionally, it excludes any assumed share repurchases that would ordinarily be considered under the treasury stock method. Cash-converted basis assumes full cash deployment into ETH at week-ending closing price.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies to adopt Ether (“ETH”) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the user experience. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for certain types of crypto assets, the Company may be required to record associated impairment charges reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected]
Media Contact:
[email protected]
IL0010826191
SharpLink Announces Total ETH Holdings Increased to 797,704 as of August 24, 2025; Raised $360.9 Million in Net Proceeds for Week of August 18 – August 22, 2025
Total Staking Rewards Increased to 1,799 ETH as of August 24, 2025;
Approximately $200 Million in Cash Available for Additional ETH Acquisitions
MINNEAPOLIS, MN, Aug. 26, 2025 (GLOBE NEWSWIRE) — SharpLink Gaming, Inc. (Nasdaq: SBET) (“SharpLink” or the “Company”), one of the world’s largest corporate holders of Ether (“ETH”) and prominent industry advocate of Ethereum adoption, today issued its update on the Company’s ETH purchases for the period Monday, August 18, 2025 through Sunday, August 24, 2025; and capital raised through its At-the-Market (“ATM”) facility during the week Monday, August 18 through Friday, August 22, 2025.
Joseph Chalom, Co-Chief Executive Officer of SharpLink, stated, “Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision and the commitment of our team. With nearly 800,000 ETH now in reserve and strong liquidity available for further ETH acquisitions, our focus on building long-term value for our stockholders while simultaneously supporting the broader Ethereum ecosystem remains unwavering.”
Key Highlights for the Week Ending August 24, 2025:
- Purchased 56,533 ETH.
- $360.9 million in net proceeds were raised through the ATM facility this past week.
- Average ETH purchase price for the week was $4,462.
- Total ETH holdings increased to 797,704, currently valued at approximately $3.7 billion.
- Total staking rewards rose to 1,799 ETH since launch of treasury strategy on June 2, 2025.
- Approximately $200 million cash on hand yet to be deployed into ETH acquisitions.
- ETH Concentration on a cash-converted basis* exceeds 4.00, up over 100% since June 2, 2025.
- On August 18, 2025, SharpLink’s Board approved a $1.5 billion stock buyback plan.
Weekly ETH and Capital Summary
| Week Ending | ||||||||||||||||
| Units of ETH (K) | 8/3/25 | 8/10/25 | 8/17/25 | 8/24/25 | ||||||||||||
| Beginning Balance | 438.2 | 521.9 | 596.8 | 740.8 | ||||||||||||
| ETH Acquired | 83.6 | 74.8 | 143.6 | 56.5 | ||||||||||||
| ETH Staking Rewards | 0.2 | 0.1 | 0.3 | 0.4 | ||||||||||||
| Ending Balance | 521.9 | 596.8 | 740.8 | 797.7 | ||||||||||||
| Avg ETH Purchase Price | $ | 3,634 | $ | 4,051 | $ | 4,648 | $ | 4,462 | ||||||||
| ETH Concentration* | 3.66 | 3.59 | 3.87 | 3.80 | ||||||||||||
| ATM Shares Issued (m) | 13.6 | 13.5 | 6.6 | 18.6 | ||||||||||||
| ATM Net Proceeds ($m) | $ | 264.5 | $ | 291.8 | $ | 146.5 | $ | 360.9 | ||||||||
* To enhance transparency into the Company’s yield performance, SharpLink introduced a new reporting metric called “ETH Concentration.” This metric is calculated by dividing the number of ETH SharpLink holds by each 1,000 assumed diluted shares issued and outstanding (“Assumed Diluted Shares Outstanding”). Assumed Diluted Shares Outstanding represents the sum of (i) SharpLink’s actual shares of common stock issued and outstanding as of the end of each reporting period, inclusive of disclosed ATM sales, plus (ii) the additional shares that would be issued upon the assumed exercise or settlement of all outstanding warrants, pre-funded warrants, stock option awards, and restricted stock units. Notably, Assumed Diluted Shares Outstanding is not calculated using the treasury stock method. It does not account for equity award vesting conditions, stock option exercise prices, or contractual restrictions limiting the convertibility of debt instruments. Additionally, it excludes any assumed share repurchases that would ordinarily be considered under the treasury stock method. Cash-converted basis assumes full cash deployment into ETH at week-ending closing price.
About SharpLink Gaming, Inc.
Headquartered in Minneapolis, Minnesota, SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies to adopt Ether (“ETH”) as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.
SharpLink is also reimagining the future of online gaming. Backed by a veteran team with deep roots in sports media, gaming and technology, SharpLink is charting a new course – building scalable, secure and transparent solutions that challenge outdated models and bring real innovation to the user experience. Learn more at www.sharplink.com.
Forward-Looking Statement
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and these forward-looking statements are subject to various risks and uncertainties. Such statements include, but are not limited to, the execution of the Company’s treasury strategy and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, fluctuations in the market price of ETH that will impact the Company’s accounting and financial reporting (see accounting rules discussed below), government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services, the demand for its products and its customers’ economic condition, the impact of competitive products and pricing, the lengthy sales cycle, proprietary rights of the Company, changes in applicable laws or regulations, and its competitors, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the SEC. Under U.S. generally accepted accounting principles, entities are generally required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the balance sheet and income statement results. Additionally, for certain types of crypto assets, the Company may be required to record associated impairment charges reflected in net income as a result of a decrease in the market price of ETH below the cost value at which the Company’s ETH are carried on its balance sheet. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company does not undertake any responsibility to update the forward-looking statements in this press release.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
[email protected]
Media Contact:
[email protected]
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