Affiliate firm SharpLink Gaming announces reverse stock split
Affiliate marketing company SharpLink Gaming has announced a reverse stock split that starts May 6.
The announcement signals an attempt by SharpLink Gaming to increase the per-share trading price of its common stock to meet the US$1 minimum price requirement to remain on the Nasdaq Capital Market.
The stock split will be an effective 1-for-12 reverse. That means shareholders will receive one share for every 12 common shares they own. The value of their investment will remain the same, but the price of SharpLink Gaming shares will increase.
Any resulting fractional shares will be rounded down to the nearest whole post-split share as part of the reverse split process. The reverse split is being handled by UK-based financial services company Equiniti Trust Company, which also will deal with inquiries from shareholders.
Based in Minneapolis, SharpLink Gaming runs PAS.net, a network of igaming affiliates. PAS.net has won Top Affiliate Program and Top Affiliate Website awards for four straight years.
SharpLink Gaming also runs its own portfolio of affiliate marketing platforms designed to drive traffic to its various online gaming partners.
