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SharpLink Gaming Announces Receipt of Notice of Deficiency with Nasdaq Continued Listing Requirements
MINNEAPOLIS, April 22, 2022 (GLOBE NEWSWIRE) -- SharpLink Gaming Ltd. (Nasdaq:SBET) (“SharpLink” or the “Company”), a pioneer of targeted, data-driven user
About this update from Sharplink, Inc.
[{"type":"text","content":"MINNEAPOLIS, April 22, 2022 (GLOBE NEWSWIRE) -- SharpLink Gaming Ltd. (Nasdaq:SBET) (“SharpLink” or the “Company”), a pioneer of targeted, data-driven user engagement and conversion solutions for the emerging U.S. sports betting and iGaming industries, today announced that it has received a letter from the Listing Qualifications staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that it is no longer in compliance with the minimum Market Value of Listed Securities (MVLS) set forth in Nasdaq Marketplace Rule 5550(b)(2) or the alternative criteria for continued listing on the Nasdaq Capital Market. This notice has no immediate action regarding the Company’s listing or trading of the Company’s stock. In accordance with Nasdaq Marketplace Rule 5810(c)(3)(C), the Company has 180 calendar days, or until October 17, 2022, to regain compliance. If at any time during the compliance period the Company’s MVLS closes at $35 million or more for a minimum of ten consecutive business days, Nasdaq will provide SharpLink with written confirmation of compliance and this matter will be closed. The Company believes it is currently in compliance with Nasdaq continued standards under the alternative minimum stockholders’ equity standard as defined in Nasdaq Marketplace Rule 5550(b)(1). Management believes it will be able to demonstrate such compliance upon the filing of its audited financial results for the year ended December 31, 2021 on Form 20-F, expected to be filed timely with the U.S. Securities and Exchange Commission. About SharpLink Gaming Ltd.Founded in 2019 and based in Minneapolis, Minnesota, SharpLink is a leading online technology company that connects sports fans, leagues and sports websites to relevant and timely sports betting and iGaming content. SharpLink uses proprietary, intelligent, online conversion technology to convert sports fans into sports bettors for licensed, online sportsbook operators. SharpLink's intelligent C4 Sports Betting Conversion technology delivers and determines the best sportsbook betting offers and experience for each identified user. Using sophisticated, AI-enabled behavioral modeling and tracking technologies, and by analyzing user's past and present behaviors, we serve sports fans with personalized betting offers specifically tied to each fan's favorite sports, teams and players. Additional...