RSports Interactive, Inc completed the acquisition of Fantasy Sports and Sports Game Development Business Units of SharpLink Gaming Ltd..
RSports Interactive, Inc agreed to acquire Fantasy Sports and Sports Game Development Business Units of SharpLink Gaming Ltd. (NasdaqCM:SBET) for $22.5 million on January 18, 2024. The consideration is paid through cash. All employees of acquired business units will join RSports Interactive. Chris Nicholas, Chief Operating Officer and a member of the Board of Directors, resigned as an officer and director of the SharpLink Gaming Ltd. SharpLink used approximately $14.9 million of the proceeds from the sale to repay in full all outstanding term loans and lines of credit in addition, SharpLink paid approximately $4.5 million to redeem an 8% Interest, 10% Original Issue Discount Senior Convertible Debenture and expects to significantly reduce its operating expenses. Corporate Law Partners, PLLC acted as legal advisor to SharpLink Gaming Ltd. (NasdaqCM:SBET) and Erickson | Sederstrom, PC, LLO acted as legal advisor to RSports Interactive, Inc.
RSports Interactive, Inc completed the acquisition of Fantasy Sports and Sports Game Development Business Units of SharpLink Gaming Ltd. (NasdaqCM:SBET) on January 31, 2024.