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Sharplink buys Ether and executes $4.69 share buyback
The company bought 10,000 Ether at an average $1,611 per token and said its June equity financing strengthened its financial position.
Sharplink Inc. has improved its financial position by buying Ether and repurchasing shares in the open market, according to Yahoo Finance.
The NASDAQ-listed company disclosed that it purchased 10,000 Ether on June 30 at an average price of $1,611 per ETH, lifting its cumulative holdings to 886,725 tokens.
Sharplink also executed an open market buyback of more than 2.13 million of its common shares under its existing stock repurchase program, at an average rate of $4.69 per share.
The outlet said CEO Joseph Chalom pointed to a recently concluded $75 million registered direct offering as a factor behind improved financial standing and its approach to ETH treasury management, after the company earlier disclosed an agreement to sell more than 10 million common shares with attached warrants priced to represent a 41% premium over the then-prevailing market price.
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