SharpLink Gaming, Inc. will implement a 1-for-12 reverse stock split effective May 6, 2025, to meet Nasdaq listing requirements.
Quiver AI Summary
SharpLink Gaming, Inc. has announced a 1-for-12 reverse stock split of its common stock, effective May 6, 2025, to raise its stock price above the $1.00 minimum bid required for continued listing on The Nasdaq Capital Market. Post-split, every twelve shares will combine into one, affecting outstanding common stock, warrants, and stock options while not reducing the number of authorized shares. SharpLink, a performance-based marketing firm in the U.S. sports betting and global iGaming sectors, operates PAS.net and various state-specific marketing websites. The company has received industry accolades for its affiliate marketing services and will provide more information through its transfer agent, Equiniti Trust Company. Forward-looking statements regarding potential business growth and risks are included in the release.
Potential Positives
- The reverse stock split is aimed at increasing the per share trading price to meet the Nasdaq Capital Market's $1.00 minimum bid price requirement, helping the company maintain its listing.
- SharpLink’s PAS.net network has received industry recognition as a leading affiliate marketing program, which may enhance its credibility and attract more partnerships.
- The company continues to operate under the Nasdaq symbol “SBET,” indicating ongoing confidence in its market presence.
Potential Negatives
- The reverse stock split is an indication that the company's stock price has fallen below the $1.00 minimum bid price requirement for Nasdaq listing, which may signal investor concern or lack of confidence.
- Implementing a reverse stock split can be perceived negatively as it may suggest that the company is struggling to maintain its market value or attractiveness to investors.
- The absence of cash compensation for fractional shares may result in dissatisfaction among shareholders, potentially affecting their perception of the company.
FAQ
What is the reason for SharpLink's reverse stock split?
SharpLink is implementing a reverse stock split to increase its share price to meet Nasdaq's $1.00 minimum bid price requirement.
What will be the ratio of the reverse stock split?
The reverse stock split will be executed at a 1-for-12 ratio, meaning every twelve shares will become one share.
When will the reverse stock split take effect?
The reverse stock split will take effect for trading purposes on May 6, 2025.
How will the reverse stock split affect outstanding warrants and stock options?
The reverse stock split will also apply to outstanding warrants and stock options, adjusting them according to the 1-for-12 ratio.
Who can stockholders contact for assistance with the reverse stock split?
Stockholders can contact SharpLink's transfer agent, Equiniti Trust Company, at 877-248-6417 or 718-921-8317 for assistance.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SBET Hedge Fund Activity
We have seen 7 institutional investors add shares of $SBET stock to their portfolio, and 5 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- UBS GROUP AG added 53,590 shares (+1233.7%) to their portfolio in Q4 2024, for an estimated $34,522
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- VIRTU FINANCIAL LLC added 26,951 shares (+inf%) to their portfolio in Q4 2024, for an estimated $17,361
- CAHILL FINANCIAL ADVISORS INC removed 24,885 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $16,030
- TWO SIGMA SECURITIES, LLC added 17,976 shares (+101.8%) to their portfolio in Q4 2024, for an estimated $11,580
- HRT FINANCIAL LP added 13,621 shares (+inf%) to their portfolio in Q4 2024, for an estimated $8,774
- STATE STREET CORP added 11,100 shares (+inf%) to their portfolio in Q4 2024, for an estimated $7,150
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Full Release
MINNEAPOLIS, May 01, 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 will effect a 1-for-12 reverse stock split of its outstanding common stock. The reverse stock split will be effective for trading purposes as of the commencement of trading on May 6, 2025.
The reverse stock split is intended to increase the per share trading price of SharpLink’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 550(a)(1)). SharpLink’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “SBET” and under a new CUSIP number, 820014405. As a result of the reverse stock split, every twelve pre-split shares of common stock outstanding will become one share of common stock. The reverse split will also apply to common stock issuable upon the exercise of SharpLink’s outstanding warrants and stock options. The reverse stock split will not proportionately reduce the number of shares of authorized common stock, as permitted under Delaware law.
SharpLink’s transfer agent, Equiniti Trust Company, LLC, which is also acting as the exchange agent for the reverse split, will provide instructions to stockholders regarding the process for exchanging share certificates. Any fractional shares of common stock resulting from the reverse stock split will be rounded to the nearest whole post-split share (half shares will be rounded down) and no stockholders will receive cash in lieu of fractional shares. For assistance from Equiniti, please call 877-248-6417 or 718-921-8317.
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:
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