Deal Description: SharpLink Gaming, Inc. (NASDAQ: SBET) (the “Company”) today announced that it has entered into securities purchase agreements for a private investment in public equity (“PIPE”) for the purchase and sale of shares of its common stock (or common stock equivalents in lieu thereof) for expected aggregate gross proceeds of approximately $425,000,000.

The Company intends to use the funds to acquire the native cryptocurrency of the Ethereum blockchain commonly referred to as “ETH” pending identification of working capital needs and other general corporate purposes. ETH will serve as the Company’s primary treasury reserve asset.

Consensys Software Inc. (“Consensys”), the leading Ethereum software company, building the infrastructure, tools, and protocols that power the world’s largest decentralized ecosystem, acted as the lead investor in the PIPE, which included participation by prominent crypto venture capital firms and infrastructure providers.

Baker Botts represented Consensys in the transaction.

The Company’s press release can be found here.

Baker Botts Lawyers/Offices Involved:

Corporate and Securities: Brendan Dignan (Partner, Washington, D.C.); Doug Getten (Partner, Houston); Carina Antweil (Partner, Houston); Brendan Quigley (Partner, New York); Parker Hinman (Senior Associate, Houston); Blake Haarstad (Senior Associate, New York); Shelby Brown (Associate, Houston); Talha Chaudhry (Associate, Houston); Tyler Kendler (Associate, Washington)

Tax: Jon Lobb (Partner, Houston); Jordan Hahn (Partner, Dallas)

Executive Compensation and Benefits: Jason Loden (Partner, Dallas)

International Trade: Jason Wilcox (Special Counsel, Washington)

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