Online reports, sports betting operator SharpLink Gaming, Inc. (NASDAQ: SBET) today announced that it has signed a securities purchase agreement to conduct a $425 million public company private equity investment (PIPE) and plans to issue approximately 69.1 million common shares (or equivalent securities) at a price of $6.15 per share ($6.72 per share for company management team members). Consensus Software Inc. led the investment as a major investor, with participants including ParaFi Capital, Electric Capital, Pantera Capital, Galaxy Digital and other well-known crypto venture capital institutions. The transaction is expected to complete on May 29. SharpLink plans to use the funds raised to purchase Ethereum (ETH) as the company's main treasury reserve asset. After the transaction is completed, Joseph Lubin, co-founder of Ethereum and founder and CEO of Consensus sys, will serve as chairman of the board of directors of SharpLink and will serve as a strategic consultant to assist the company in developing its core business.