Crypto treasury companies
Last Tuesday, SharpLink Gaming Inc. was an online marketing company for sports betting with a stock price of about $2.91 per share and an equity market capitalization of about $2 million. It was listed on the Nasdaq, but only barely; a few weeks ago it had to do a reverse stock split to stay above Nasdaq’s $1 minimum stock price, and it also didn’t meet Nasdaq’s minimum $2.5 million shareholders’ equity requirement. So on Tuesday it announced a stock offering, raising $4.5 million at $2.94 per share, with a use of proceeds of “regaining compliance with Nasdaq’s minimum requirement ...
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