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 and Founder Joseph Lubin stated in an interview that SharpLink has been conducting At-The-Market (ATM) sales of its stock, leading to dilution of SBET investors' equity. This has sparked panic and concern, causing the stock price to plummet 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 result in future dilution upon conversion), but in the short term, this may stabilize SBET (reduced stock entering the market).