SharpLink Gaming begins utilizing share buyback program

SharpLink Gaming (SBET)has begun to utilize its share buyback program to drive long-term stockholder value. he Company believes its common stock is significantly undervalued in the market and believes buybacks represent a compelling investment that underscores confidence in its long-term strategy and growth prospects. SharpLink holds approximately $3.6B of ETH with no current outstanding debt. Nearly 100% of the $3.6B of ETH is staked, which is generating material revenue for the Company. While the Company trades below its Net Asset Value, stock repurchases are immediately accretive to stockholders. To demonstrate its commitment, the Company began utilizing its share buyback program, starting with the repurchase of approximately 939,000 shares of its common stock at an average price of $15.98. The Company expects to repurchase additional shares based on market conditions using cash on hand, cash available from operating activities like staking, or alternative forms of financing. SharpLink also reaffirms that it has not utilized its At-the-Market facility while trading below NAV, as doing so would be dilutive on an ETH per share basis. If market conditions change, however, the Company reserves the right to utilize the ATM facility in an accretive manner for the stockholders.