SharpLink Gaming has completed its domestic merger.
This was part of a plan to merge SharpLink Gaming Ltd, otherwise known as SharpLink Israel, with SharpLink Gaming Inc, or SharpLink US.
By doing this, Sharplink will change the jurisdiction of its corporation from Israel to Delaware.
The merger is effective immediately, 13 February 2024, and will make SharpLink Irsael a wholly owned subsidiary of SharpLink US.
Rob Phythian, SharpLink US Chairman and CEO, said: “The completion of the domestication merger represents an exclamation mark on the end of a series of strategic initiatives that SharpLink has successfully executed over the past several months.
“This includes completing the equity sale of our fantasy sports and free-to-play sports game development business for $22.5m; retiring all of our interest-bearing debt; regaining full compliance with Nasdaq’s continued listing standards; and positioning our company to be a pure-play performance marketing company focused on serving the sports betting and casino gaming industries.”
The SharpLink Israel shares will be exchanged one-for-one for SharpLink US common or preferred stock.
As part of the merger, Sharplink Directors Joseph Housman, Paul Abdo, Scott Pollei and Thomas Doering have all resigned from the Board.
Adrienne Anderson has been appointed as Chair of SharpLink US’s Audit Committee and as a member of the Compensation Committee.
Obie McKenzie and Leslie Bernhard have been appointed to the Board of Directors, and both will serve on the Audit and Compensation Committees.
Phythian continued: “I’d like to extend my heartfelt thanks to SharpLink Israel’s former Board of Directors, whose tireless commitment to our Company over the past several years was a defining factor in our achieving numerous mission-critical objectives.”
Late last year, Sharplink Gaming signed a deal with SB22 as part of a shift in focus over towards US audiences.
