SharpLink Chairman of the Board: Considering Convertible Note Financing to Stabilize Stock Price
According to Jinse Finance, Joseph Lubin, Chairman of the Board at SharpLink and CEO and founder of ConsenSys, stated in an interview that so far, SharpLink has been selling its shares through ATM (At-The-Market) offerings, which has resulted in the dilution of SBET investors' equity. This has triggered panic and concern, causing the stock price to drop from $37 to below $20 in less than two weeks. SharpLink's issuance of convertible notes means they will be able to raise funds without immediately diluting equity (convertible bonds carry debt risk and may lead to future dilution upon conversion), but in the short term, this could stabilize SBET (as fewer shares enter the market).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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