Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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- Peter Lynch
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
|
SHARPLINK, INC. (Name of Issuer) |
Common Stock, par value $0.0001 per share (Title of Class of Securities) |
820014405 (CUSIP Number) |
Matt Corva Consensys Software Inc., 5049 Edwards Ranch Road, Ft. Worth, TX, 76109 (908) 460-6905 Sarah Constantine Arnold & Porter Kaye Scholer LLP, 250 West 55th Street New York, NY, 10019-9710 (212) 836-8066 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
04/15/2026 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 820014405 |
| 1 |
Name of reporting person
Joseph Michael Lubin | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
ONTARIO, CANADA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
16,543,084.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
7.8 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
Items 7 and 9 consist of 5,154,213 shares of common stock, par value $0.0001 ("Common Stock"), of Sharplink, Inc. (formerly known as SharpLink Gaming, Inc.) (the "Issuer"), held by Mr. Lubin directly. Items 8 and 10 consist of (i) 5,676,952 shares of Common Stock held directly by Consensys Software Inc. ("CSI"), an entity that may be deemed controlled by Mr. Lubin, (ii) an aggregate of 3,455,019 shares of Common Stock issuable under non-pre-funded warrants held by CSI; (iii) 1,200,000 shares of Common Stock held directly by Permanent Highest Power Capital LLC ("PHPC LLC"); (iv) 975,600 shares of Common Stock held by Consensys AG ("CAG"), an entity that may be deemed controlled by Mr. Lubin; and (v) 81,300 shares of Common Stock held directly by Ethereal Ventures Fund II L.P, an entity in which Mr. Lubin may be deemed to share indirect control. Items 11 and 13 are calculated based on an assumed combined total of 212,430,992 shares of Common Stock outstanding. This assumed combined total outstanding of Common Stock consists of: (i) 197,158,808 shares of Common Stock outstanding as of March 4, 2026, as disclosed in the Issuer's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the "2025 10-K"), (ii) an aggregate of 11,817,165 shares of Comm
on Stock issued on April 15, 2026 upon the exercise by CSI of 5,462,952 pre-funded warrants, and the exercise thereafter by Mr. Lubin of 5,154,213 and PHPC of 1,200,000 pre-funded warrants, and (iii) an aggregate of 3,455,019 non-pre-funded warrants held by CSI, all of which are currently exercisable for newly-issued Common Stock. Mr. Lubin does not have any voting or investment control over the securities held by CSI or CAG, and disclaims beneficial ownership of the Issuer's securities held by CSI and CAG. This statement shall not be deemed an admission that Mr. Lubin is the beneficial owner of the Issuer's securities held by CSI and CAG for the purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended.
SCHEDULE 13D
|
| CUSIP No. | 820014405 |
| 1 |
Name of reporting person
Consensys Software Inc. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
9,131,971.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
4.3 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
Items 8, 10 and 11 consist of (i) 5,676,952 shares of Common Stock held by CSI directly, and (ii) an aggregate of 3,455,019 shares of Common Stock issuable under all non-pre-funded warrants held by CSI. Item 13 is calculated based on an assumed combined total of 212,430,992 shares of Common Stock outstanding. This assumed combined total outstanding of Common Stock consists of: (i) 197,158,808 shares of Common Stock outstanding as of March 4, 2026, as disclosed in the Issuer's 2025 10-K; (ii) an aggregate of 11,817,165 shares of Common Stock issued on April 15, 2026 upon the exercise by CSI of 5,462,952 pre-funded warrants, and the exercise thereafter by Mr. Lubin of 5,154,213 and PHPC of 1,200,000 pre-funded warrants; and (iii) an aggregate of 3,455,019 non-pre-funded warrants held by CSI, all of which are currently exercisable for newly-issued Common Stock.
SCHEDULE 13D
|
| CUSIP No. | 820014405 |
| 1 |
Name of reporting person
Consensys AG | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
SWITZERLAND
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
975,600.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.5 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
Items 8, 10 and 11 consist of 975,600 shares of Common Stock held by CAG. Item 13 is calculated based on an assumed combined total of 208,975,973 shares of Common Stock outstanding. This assumed combined total outstanding of Common Stock consists of: (i) 197,158,808 shares of Common Stock outstanding as of March 4, 2026, as disclosed in the Issuer's 2025 10-K; and (ii) an aggregate of 11,817,165 shares of Common Stock issued on April 15, 2026 upon the exercise by CSI of 5,462,952 pre-funded warrants, and the exercise thereafter by Mr. Lubin of 5,154,213 and PHPC of 1,200,000 pre-funded warrants.
SCHEDULE 13D
|
| CUSIP No. | 820014405 |
| 1 |
Name of reporting person
Permanent Highest Power Capital LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,200,000.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.6 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
Items 8, 10 and 11 consist of 1,200,000 shares of Common Stock held directly by PHPC LLC. Item 13 is calculated based on an assumed combined total of 208,975,973 shares of Common Stock outstanding. This assumed combined total outstanding of Common Stock consists of (i) 197,158,808 shares of Common Stock outstanding as of March 4, 2026, as disclosed in the Issuer's 2025 10-K; and (ii) an aggregate of 11,817,165 shares of Common Stock issued on April 15, 2026 upon the exercise by CSI of 5,462,952 pre-funded warrants, and the exercise thereafter by Mr. Lubin of 5,154,213 and PHPC of 1,200,000 pre-funded warrants.
SCHEDULE 13D
|
| CUSIP No. | 820014405 |
| 1 |
Name of reporting person
Ethereal Ventures Fund II L.P. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
VIRGIN ISLANDS, BRITISH
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
81,300.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person:
Items 8, 10 and 11 consist of 81,300 shares of Common Stock held directly by Ethereal Ventures Fund II L.P. ("Fund II"). The sole general partner of Fund II is Ethereal Ventures II Partners L.P., whose sole general partner is Ethereal Ventures II GP Ltd. ("EV GP"). Mr. Lubin and Hui Min Teo each have a 50% interest in EV GP and comprise its Board of Directors. Item 13 is calculated based on an assumed combined total of 208,975,973 shares of Common Stock outstanding. This assumed combined total outstanding of Common Stock consists of (i) 197,158,808 shares of Common Stock outstanding as of March 4, 2026, as disclosed in the Issuer's 2025 10-K; and (ii) an aggregate of 11,817,165 shares of Common Stock issued on April 15, 2026 upon the exercise by CSI of 5,462,952 pre-funded warrants, and the exercise thereafter by Mr. Lubin of 5,154,213 and PHPC of 1,200,000 pre-funded warrants.
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
Common Stock, par value $0.0001 per share | |
| (b) | Name of Issuer:
SHARPLINK, INC. | |
| (c) | Address of Issuer's Principal Executive Offices:
200 S. Biscayne Boulevard, Miami,
FLORIDA
, 33131. | |
Item 1 Comment:
This Amendment No.1 to Schedule 13D ("Amendment No. 1"), which relates to beneficial ownership of shares of the common stock, par value $0.0001 per share ("Common Stock") of Sharplink, Inc. (the "Issuer"), is being filed by the Reporting Persons named below to amend the Schedule 13D originally filed by Joseph Michael Lubin, Consensys Software Inc. ("CSI"), and Consensys AG ("CAG") on June 6, 2025 (the "Original 13D"), to reflect: (i) an increase in the number of shares of Issuer Common Stock outstanding; (ii) the contribution by Mr. Lubin on April 15, 2026 to Permanent Highest Power Capital LLC, a Delaware limited liability company wholly-owned and solely managed by Mr. Lubin ("PHPC LLC"), of pre-funded warrants to purchase up to 1,200,000 shares of Common Stock held directly by Mr. Lubin; and (iii) immediately after such contribution, the gift by Mr. Lubin of all of the limited liability company interests in PHPC LLC to the Gradient Ascent Trust (the "Trust"), an irrevocable trust established by Mr. Lubin for estate-planning purposes. Mr. Lubin's son is a co-trustee of the Trust, and the beneficiaries of the Trust are members of Mr. Lubin's immediate family. However, as sole manager of PHPC LLC, Mr. Lubin retains beneficial ownership of the Issuer's securities held directly by PHPC LLC for purposes of this Amendment No. 1. In addition, on April 15, 2026, after the contribution and gift described above: (i) CSI exercised all of its 5,462,952 pre-funded warrants; and (ii) Mr. Lubin and PHPC thereafter exercised all of their 5,154,213 and 1,200,000 pre-funded warrants, respectively. This Amendment No. 1 amends the Original 13D as follows. | ||
| Item 2. | Identity and Background | |
| (a) | Item 2 is hereby amended in its entirely to read as follows: This Amendment No. 1 is being filed jointly by: (i) Joseph Michael Lubin, a citizen of Canada; (ii) Consensys Software Inc., a Delaware corporation ("CSI"); (iii) Consensys AG, a corporation incorporated in Switzerland ("CAG"); (iv) Permanent Highest Power Capital LLC, a Delaware limited liability company ("PHPC"); and (v) Ethereal Ventures Fund II, L.P. ("Fund II") Each of the foregoing is referred to as a "Reporting Person," and collectively as the "Reporting Persons." Each of the Reporting Persons is a party to that certain Joint Filing Agreement attached hereto as Exhibit 99.1. Information with respect to the executive officers and directors of CSI and CAG, and the general partner of Fund II is set forth on Schedule 1 hereto. | |
| (b) | The address for Mr. Lubin and CSI for purposes of this filing is 5049 Edwards Ranch Rd., Ft Worth, TX 76109. The address for CAG for purposes of this filing is Gartenstrasse 6, 6300 Zug, Switzerland. The address for PHPC for purposes of this filing is SAX, c/o Lisa Goldman, 1040 Avenue of the Americas 16th Floor, New York, NY 10018. The address for Fund II for purposes of this filing is Kingston Chambers, PO Box 173, Road Town, Tortola, VG1110, BVI. | |
| (c) | Mr. Lubin is the CEO and a director of CSI, and Chairperson of the Board of CAG. CSI and CAG are blockchain and web3 software companies with a strategic focus on Ether, the native cryptocurrency of the Ethereum blockchain ("ETH"). Mr. Lubin is the sole manager of PHPC LLC, a limited liability company formed by Mr. Lubin for estate planning purposes. Mr. Lubin is the 50% owner (and a director) of Ethereal Ventures II GP Ltd., which is the general partner of Ethereal Ventures II Partners L.P., which is the general partner of Fund II. Fund II engages in early stage equity, equity-related, and debt investments in private companies and digital asset investments. | |
| (d) | During the five years preceding the date of this filing, neither any of the Reporting Persons, nor any of the persons listed on Schedule 1, have been: (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. | |
| (e) | See response to (d). | |
| (f) | Mr. Lubin is a Canadian citizen. | |
| Item 4. | Purpose of Transaction | |
Item 4 is hereby deleted in its entirety and replaced with the following: The information set forth or incorporated in Item 3 and Item 6 of the Original 13D is hereby incorporated by reference in its entirety into this Item 4. The Reporting Persons acquired the Common Stock, Initial Pre-Funded Warrants, PIPE Pre-Funded Warrants and Strategic Advisor Warrants as part of the transactions described in Item 3 of the Original 13D. Mr. Lubin, in his capacity as a member of the board of directors of the Issuer, and CSI in its capacity as strategic advisor to the Issuer under the Strategic Advisor Agreement, intend to work with the Issuer in relation to the Issuer's Ethereum Treasury Strategy, including but not limited to assessing market opportunities to acquire ETH and assessing protocol-level activities, such as staking and decentralized finance mechanisms, which are native to the Ethereum network. Neither CAG, PHPC nor Fund II currently intend to have a direct role in any plans or proposals relating to the Issuer's business or capital structure. The Reporting Persons may in the future take actions with respect to their investment in the Issuer as they deem appropriate, including changing their current intentions, with respect to any or all matters required to be disclosed in this Schedule 13D. From time to time, the Reporting Persons may acquire beneficial ownership of additional securities of the Issuer, by purchase or otherwise, including additional purchases of shares in the open-market or privately negotiated transactions or otherwise and upon receipt from the Issuer of future equity compensation awards for which Mr. Lubin may qualify as Chairman of the Board or member of the board of directors of the Issuer, including, but not limited to, certain derivative and restricted securities. In addition, from time to time, the Reporting Persons may dispose of all or a portion of the securities of the Issuer that are beneficially owned by such Reporting Persons. The contribution by Mr. Lubin to PHPC LLC of pre-funded warrants to purchase up to 1,200,000 shares of Common Stock held directly by Mr. Lubin, and the gift all of the limited liability company interests in PHPC LLC to the Trust immediately thereafter, as described in the Explanatory Note in Item 1 above, was for estate planning purposes. The pre-funded warrants beneficially owned by each of Mr. Lubin, PHPC LLC, and CSI were exercised (for a nominal exercise price) as a result of the increase in the number of shares of the Issuer's Common Stock outstanding, as such exercise is now permitted by the beneficial ownership limitations set forth in certain of such warrants. Although the exercise of such warrants increased the voting power of the Reporting Persons, it did not reflect any change in the intent of the Reporting Persons with respect to their investment in the Issuer as described above. Except as set forth above, at the present time, the Reporting Persons do not have any current plans or future intentions of making additional changes to the board of directors, management, or changing the number/terms of board of director members of the Issuer. Other than as described above, the Reporting Persons do not have any plan or proposal that relate to or would result in any of the transactions involving the Issuer described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. | ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | Item 5 is hereby amended and restated in its entirety as follows: The information contained on the cover pages of this Schedule 13D is incorporated herein by reference. | |
| (b) | The information contained on the cover pages of this Schedule 13D is incorporated herein by reference. Mr. Lubin may be deemed to control each of CSI and CAG, and as a result, may be deemed to share beneficial ownership of the Issuer's securities held directly by those entities. Mr. Lubin disclaims beneficial ownership with respect to such securities. Mr. Lubin, as the manager of PHPC LLC, may be deemed to share beneficial ownership of the Issuer's securities held directly by PHPC LLC. Mr. Lubin, as the 50% owner of Ethereal Ventures II GP Ltd., which is the general partner of Ethereal Ventures II Partners L.P., which is the general partner of Fund II, may be deemed to share beneficial ownership of the Issuer's securities held directly by Fund II with Hui Min Teo. See Schedule I. | |
| (c) | Except the information set forth in this Amendment No. 1, no transactions in any of the Common Stock have been effected by the Reporting Persons (or the persons on Schedule 1 hereto) during the past sixty days. | |
| (d) | None. | |
| (e) | As of the date of this Amendment No. 1, the Reporting Persons other than Mr. Lubin individually beneficially own less than 5% of the Issuer's Common Stock. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
Item 6 is hereby amended to add the following prior to the last paragraph thereof: The information set forth in Item 1 and Item 4 of this Amendment No. 1 is hereby incorporated by reference in its entirety into this Item 6. The Deed of Capital Contribution and Receipt governing the contribution of the pre-funded warrants by Mr. Lubin to PHPC LLC, and the Assignment and Assumption Agreement governing the assignment of the interests in PHPC LLC to the Trust are attached hereto as Exhibits 99.2 and 99.3, respectively. Under the agreement establishing the Trust, Mr. Lubin has the right to reacquire the assets held by the Trust (including the limited liability company interests in PHPC LLC) at any time by substituting other property having equivalent value therefor (the "Reacquisition Right"). The Reacquisition Right is attached hereto as Exhibit 99.4. | ||
| Item 7. | Material to be Filed as Exhibits. | |
99.1 Joint Filing Agreement by and among the Reporting Persons 99.2 Deed of Capital Contribution and Receipt, dated as of April 15, 2026, among Joseph Lubin, PHPC LLC and the Issuer. 99.3 Assignment and Assumption Agreement, dated as of April 15, 2026, between Joseph Lubin and Gradient Ascent Trust. 99.4 Reacquisition Right. | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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