SharpLink Chairman: Considering financing through convertible notes to stabilize stock price

BlockBeats News: On August 1st, Joseph Lubin, Chairman of SharpLink's Board of Directors, CEO and founder of ConsenSys, stated in an interview that SharpLink has been selling its stocks at ATM (At The Market), which has diluted the equity of SBET investors. This triggered panic and concern, causing the stock price to drop from $37 to below $20 in less than two weeks. SharpLink's issuance of convertible notes means they will be able to raise funds without immediately diluting equity (convertible bonds carry debt risk and may result in future dilution after conversion), but in the short term, this may stabilize SBET (a decrease in stocks entering the market).