SharpLink Gaming receives full compliance notice from Nasdaq

As a result, the company can continue trading ordinary shares on the exchange.

SharpLink has regained full compliance status with Nasdaq. The company received formal notification from the Nasdaq Stock Market, stating that “its deficiency under Listing rule 5550(b) has been cured, and that the Company is back in compliance with all applicable continued listing standards.”

Prior to the notification, SharpLink was scheduled to participate in a hearing before the Nasdaq Listing Qualifications Panel to resolve the issue.

The meeting that was set for February 20 has been canceled now that the company is in compliance with Nasdaq’s requirements.

The good news for company shareholders is that stock market trade will go on as usual, meaning SharpLink’s ordinary shares can continue to be listed and traded on Nasdaq.

In other company news, SharpLink recently signed a deal with RSports Interactive to sell its fantasy sports business units.

To ensure that there is a smooth transition, most of its employees will move to RSports. SharpLink said that close to $14.9m of the sale’s proceeds will be used to repay its loans.

SharpLink was founded in 2019. The Minneapolis-based company provides conversion and user engagement solutions to both the iGaming and US sports betting industries. SharpLink said it plans to launch other websites as states continue to legalize sports betting.

SharpLink Gaming recently launched a series of marketing website throughout the US. States with access to the customized sites include Arizona, Colorado, Iowa, Illinois, Indiana, Kansas, Louisiana, Michigan, New Jersey, New York, Pennsylvania, Tennessee, Virginia, West Virginia and Wyoming.

SharpLink said it has designed each site to draw in both online sports betting and online casino traffic.

Amanda Foster

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