SharpLink Authorized Share Buyback Of Up To $1.5 Bln

(RTTNews) - SharpLink Gaming, Inc. (SBET) Friday said its Board has authorized the company to buy back up to $1.5 billion of shares.

SharpLink noted that the timing and amount of repurchases under this program will depend on factors including market conditions, share price, trading volume among others.

"Should there exist periods where our stock trades at or below the net asset value (NAV) of our ETH holdings, it would be dilutive on an ETH per share basis to issue new equity through our capital raising efforts. In this scenario, the accretive course of action may be to repurchase our common stock. This program provides us with the flexibility to act quickly and decisively if those conditions present themselves," said Joseph Chalom, Co-Chief Executive Officer of SharpLink.