India, May 27 -- SharpLink Gaming, Inc. (SBET) soared over 500% on Tuesday morning after the sportsbooks and online casino gaming operator announced a $425 million private placement to initiate an Ethereum Treasury strategy.
SBET is currently trading at $42.64, up $35.92 or 534.52%, on a huge volume of 44 million shares, above the average volume of 234 thousand, on the Nasdaq. The stock opened its trading at $33.93 after closing Friday at $6.72. The stock has traded between $2.28 and $53.45 in the past 52-week period.
SharpLink Gaming enters into securities purchase agreements for a private investment in public equity (PIPE) for the purchase and sale of 69 million shares at $6.15 per share, for proceeds of about $425 million.
Consensys S...