SharpLink's board approves a $1.5 billion stock repurchase plan

ChainCatcher news, according to an official announcement, the Ethereum treasury strategy company SharpLink has announced that its board has approved a stock repurchase plan, with a repurchase amount of up to $1.5 billion of the company's common stock.

SharpLink Co-CEO Joseph Chalom stated, "At SharpLink, we are always committed to rigorous capital market strategies. If our stock trading price reaches or falls below the net asset value ('NAV') of the ETH we hold, then issuing new shares through financing would dilute the equity of each share of ETH. In this case, a value enhancement strategy may be to repurchase our common stock. This plan allows us to respond flexibly to these situations, enabling us to act swiftly and decisively."

The stock repurchase plan aims to enhance market support, optimize capital allocation, and reinforce SharpLink's long-term commitment to driving sustainable shareholder value. Repurchases under the plan may be made from time to time through open market purchases, privately negotiated transactions, or other methods permitted by applicable securities laws. The timing and amount of repurchases under the plan will depend on market conditions, stock price, trading volume, and other factors. The company is not obligated to repurchase any specific number of shares, and the plan may be suspended or terminated at any time.