Sharps Technology, Inc. Closes Over $400 Million Private Placement, Launching Solana Digital Asset Treasury Strategy

Rhea-AI Summary

Sharps Technology (NASDAQ:STSS) has successfully closed a significant private placement offering, raising over $400 million through the sale of common stock and stapled warrants at $6.50 per unit. The company could potentially raise up to $1 billion in total proceeds if all warrants are exercised.

The company plans to implement a digital asset treasury strategy focused primarily on SOL, the native digital asset of the Solana blockchain. A non-binding LOI with the Solana Foundation includes a commitment to sell $50 million of SOL at a 15% discount to a 30-day time-weighted average price.

The private placement attracted notable investors including ParaFi, Pantera, Monarq, and many other prominent financial institutions and digital asset market leaders. The company will maintain its medical device distribution business while providing regular updates on its SOL holdings and performance metrics.

Positive

• Raised over $400 million in private placement with potential to reach $1 billion if warrants exercised
• Secured commitment from Solana Foundation for $50 million SOL purchase at 15% discount
• Attracted investment from prominent financial institutions and digital asset leaders
• Maintains existing medical device distribution business while expanding into digital assets

Negative

• High risk exposure to volatile cryptocurrency markets
• Success heavily dependent on SOL price performance
• Non-binding nature of Solana Foundation LOI creates execution uncertainty
• Significant strategic shift from core medical device business

Transaction could raise up to $1 billion in aggregate gross proceeds if all of the warrants are exercised, which would make Sharps Technology one of the largest Solana treasury companies

Subscribers included preeminent financial institutions and digital asset market leaders such as ParaFi, Pantera, Monarq, FalconX, Phoenix Digital, Bastion Trading, RockawayX, Syncracy, Borderless, Republic Digital, Arche Capital, Arrington Capital, Hypersphere, Quantstamp, FinTech Collective, CoinList Alpha, Primitive Ventures, Avenir Group, Luca Netz, Cube, and Saba Capital, among others

NEW YORK, Aug. 28, 2025 /PRNewswire/ -- Sharps Technology, Inc. (the "Company" or "Sharps Technology") (Nasdaq: "STSS" and "STSSW") today announced the closing of its previously announced private placement offering of common stock and stapled warrants to purchase shares of common stock at a purchase price of $6.50 per unit. The transaction generated gross proceeds of over $400 million, and an additional $600 million could be raised if all of the warrants are exercised, which could increase total proceeds to $1 billion.

The Company will launch its digital asset treasury strategy under which the principal holding will be SOL, the native digital asset of the Solana blockchain. Solana is the fastest and most used public blockchain in the world, processing more transactions and generating more onchain fee revenue than all other blockchains combined.

The Company intends to use the net proceeds from the offering primarily to acquire SOL in the open market to establish its treasury operations, with additional funds allocated to working capital and general corporate purposes.

To support these efforts, Sharps Technology has signed a non-binding letter of intent (the "LOI") with the Solana Foundation, a non-profit foundation based in Zug, Switzerland, dedicated to the decentralization, adoption, and security of the Solana ecosystem. Under the terms of the LOI, the Solana Foundation has committed to selling $50 million of SOL at a 15% discount to a 30-day time-weighted average price, which the Company would acquire solely from the proceeds of a public offering, subject to certain conditions being met.

The financing was supported by a broad syndicate of leading global financial institutions and digital asset investors, including ParaFi, Pantera, Monarq, FalconX, Phoenix Digital, Bastion Trading, RockawayX, Syncracy, Borderless, Republic Digital, Arche Capital, Arrington Capital, Hypersphere, Quantstamp, FinTech Collective, CoinList Alpha, Primitive Ventures, Avenir Group, Luca Netz, Cube, and Saba Capital, and more.

"Solana is capable of handling any tradable asset, everywhere in the world, and demand is only increasing," said Alice Zhang, Chief Investment Officer and Board Member of Sharps Technology. "With the backing of premier financial and digital asset investors, we believe we are well equipped to execute on our vision with our team's extensive experience in the Solana ecosystem."

"This transaction provides the foundation for what we see as a generational opportunity," added Paul K. Danner, Executive Chairman of Sharps Technology. "Our capital base and experienced team enable us to execute a differentiated strategy designed to create meaningful, long-term value for our shareholders."

To support the Company's strategy, James Zhang will serve as Strategic Advisor to the Company, collaborating with top institutions including Monarq Asset Management, ParaFi, and Pantera to scale the treasury initiative.

Sharps Technology intends to provide regular updates on its SOL holdings and performance metrics to ensure maximum transparency for investors. The Company also plans to maintain and continue its business operations in medical device distribution.

Advisors

Cantor Fitzgerald & Co. served as lead placement agent to the Company, and Aegis Capital Corp. acted as co-placement agent to the Company.

Madison Global Partners, LLC served as a financial advisor to the Company.

Ellenoff Grossman & Schole LLP served as counsel to Sol Markets, the Company's strategic advisor.

DLA Piper LLP (US) served as counsel to Cantor Fitzgerald & Co.

Kaufman & Canoles, P.C. served as counsel to Aegis Capital Corp.

Sichenzia Ross Ference Carmel LLP served as counsel to the Company.

Securities Act Disclaimer

The information provided in this press release is intended for informational purposes only and does not constitute investment advice, endorsement, analysis, or recommendations with respect to any financial instruments, investments, or issuers. Investment in cryptocurrency and DeFi projects involves substantial risk, including the risk of complete loss. This press release does not take into account the investment objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decisions.

Forward Looking Statements

This press release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. This press release also includes express and implied forward-looking statements regarding the Company's current expectations, estimates, opinions and beliefs that are not historical facts. Such forward-looking statements may be identified by words such as "believes," "expects," "endeavors," "anticipates," "intends," "plans," "estimates," "projects," "should" and "objective" and the negative and variations of such words and similar words. These statements are made on the basis of current knowledge and, by their nature, involve numerous assumptions and uncertainties. Nothing set forth herein should be regarded as a representation, warranty or prediction that we will achieve or are likely to achieve any particular future result. Actual results may differ materially from those indicated in the forward-looking statements because the realization of those results is subject to many risks and uncertainties, including the risk that we may fail to realize the anticipated benefits of the private placement and the transactions contemplated by the LOI, including the ability of the Company to execute on its digital asset treasury strategy, as well as risks related to economic conditions, fluctuations in the market price of SOL, and the evolving regulatory environment, as well as other factors. Forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no duty to update such information except as required under applicable law.

About Sharps Technology

Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities that incorporate syringe technologies that use both passive and active safety features. Sharps Technology also offers products that are designed with specialized copolymer technology to support the pre-fillable syringe market segment. For additional information, please visit www.sharpstechnology.com.

The Company has adopted a digital asset treasury strategy focused on accumulating SOL, the native digital asset of the Solana blockchain, leveraging capital markets raises that produce consistent on-chain yield generation. Sharps Technology will provide access to the Solana network, the fastest and most used blockchain in the world.

Media Contact

Prosek Partners for Sharps Technology
Pro-SharpsTechnology@Prosek.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sharps-technology-inc-closes-over-400-million-private-placement-launching-solana-digital-asset-treasury-strategy-302541544.html

SOURCE Sharps Technology Inc

FAQ

What is the size of Sharps Technology's (STSS) private placement offering?

Sharps Technology raised over $400 million through the private placement, with potential to reach $1 billion if all warrants are exercised.

How will Sharps Technology (STSS) use the proceeds from the private placement?

The company will primarily use the proceeds to acquire SOL in the open market to establish its treasury operations, with additional funds allocated to working capital and general corporate purposes.

What is the agreement between Sharps Technology and the Solana Foundation?

The Solana Foundation has committed through a non-binding LOI to sell $50 million of SOL at a 15% discount to a 30-day time-weighted average price, subject to certain conditions.

Who are the major investors in Sharps Technology's private placement?

Major investors include ParaFi, Pantera, Monarq, FalconX, Phoenix Digital, Bastion Trading, and other prominent financial institutions and digital asset market leaders.

Will Sharps Technology continue its medical device business after this investment?

Yes, the company plans to maintain and continue its business operations in medical device distribution while implementing its new digital asset treasury strategy.