SharpLink Gaming (SBET) has released an update to notify the public and investors about listing compliance status.
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SharpLink Gaming Ltd. faced delisting from Nasdaq for failing to meet the $2.5 million stockholders’ equity requirement but managed to avert this by selling its fantasy sports units for $22.5 million, using the proceeds to clear debts and bolster its balance sheet. This strategic move not only resolved their non-compliance issue but also led to the cancellation of the scheduled Nasdaq hearing, ensuring their shares continue to trade on the market. The company has formally regained compliance with Nasdaq’s listing standards, maintaining its presence on the exchange.
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For a comprehensive understanding of the announcement, you can read the full document here.
