$SharpLink Gaming (SBET.US)$ SharpLink Announces Pricing of ...
SharpLink Announces Pricing of $76.5 Million Registered Direct Offering Priced at 12% Premium to Market Price
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73895873 : I'm very new to this can you help me understand what that means? They bought 76M above market?
Melvin8888 : i want to know too..what it means
The Speculator OP 73895873 : Essentially they raise $76.5 million at $17 which is above mNAV, hence accretive for investors because it allows them to increase ETH concentration ( ETH per share).
In addition, they allow the investor to further purchase 4.5 million share at $17.5 within the next 90 days (raise an additional $78.8 million). This is the incentive for the investor to purchase at a premium to the current share price.
BMNR had a similar raising but they hand warrant instead, which is exposed to cashless exercise (dilution without fund raise), but at a higher premium price of $87.5 if im not mistaken.
So the deals are actually more complex than they seem. But overall it’s a good thing.
73895873 The Speculator OP : thank you!