SharpLink Board Chairman: Actively Considering Convertible Note Financing to Stabilize Stock Price

BlockBeats News, August 1st, SharpLink's Chairman of the Board and ConsenSys CEO & Founder Joseph Lubin stated in an interview that SharpLink is considering raising funds through convertible notes to stabilize the stock price. So far, SharpLink has been selling its shares through ATM (At-The-Market), which has resulted in dilution of SBET investors' equity. This has caused panic and concern, leading to the stock price dropping from $37 to below $20 in less than two weeks.

Issuing convertible notes by SharpLink means that they would be able to raise funds without immediately diluting equity (convertible bonds carry debt risk and may result in future dilution upon conversion), but in the short term, this may help stabilize SBET (reducing the stock entering the market).