SharpLink Gaming raised capital for its Ethereum acquisition through a PIPE deal initiated on May 26, 2025, enabling it to secure funds quickly by selling shares privately to institutional or accredited investors instead of through a public offering

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As per the press release, the company has raised money through a PIPE deal from May 26, 2025
A PIPE, or Private Investment in Public Equity, allows a firm to quickly raise capital by selling shares privately to institutional or accredited investors, as opposed to a public offering.