FalconX entities (STSS) disclose warrant and stock stakes
Rhea-AI Filing Summary
FalconX-affiliated entities reported significant holdings in Sharps Technology Inc. common stock and warrants on an initial Form 3. MNNC Capital Digital Asset Opportunities Master Fund LP holds 461,538 common shares and MNNC Capital Digital Opportunities BTC Master Fund LP holds 307,692 shares, both indirectly.
Through Solios, Inc., the group also indirectly holds cash and cryptocurrency stapled warrants and pre-funded warrants exercisable into Sharps common stock, including 4,871,192 shares underlying cryptocurrency stapled warrants at an exercise price of $9.75 and 4,871,192 shares underlying cryptocurrency pre-funded warrants at $0.0001, with the pre-funded warrants having no expiration date.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
FalconX Holdings Ltd, Solios, Inc., FalconX Alpha, Inc., MNNC Capital Digital Asset Opportunities Master Fund LP, MNNC Capital Digital Opportunities BTC Master Fund LP, MNNC Capital GP LLC, Monarch Digital, Inc.
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Cash Stapled Warrants | -- | -- | -- |
| holding | Cash Stapled Warrants | -- | -- | -- |
| holding | Cash Stapled Warrants | -- | -- | -- |
| holding | Cryptocurrency Stapled Warrants | -- | -- | -- |
| holding | Cash Pre-Funded Warrants | -- | -- | -- |
| holding | Cryptocurrency Pre-Funded Warrants | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Cash Stapled Warrants — 461,538 shares (Indirect, By MNNC Capital Digital Asset Opportunities Master Fund LP);
Cryptocurrency Stapled Warrants — 4,871,192 shares (Indirect, By Solios, Inc.);
Cash Pre-Funded Warrants — 461,538 shares (Indirect, By Solios, Inc.);
Cryptocurrency Pre-Funded Warrants — 4,871,192 shares (Indirect, By Solios, Inc.);
Common Stock — 461,538 shares (Indirect, By MNNC Capital Digital Asset Opportunities Master Fund LP)
Footnotes (1)
- The securities are held directly by MNNC Capital Digital Asset Opportunities Master Fund, LP ("MNNC Master Fund"). MNNC Capital GP LLC ("MNNC Capital GP") is the general partner of MNNC Master Fund and may be deemed to have voting and dispositive power with respect to the securities held by MNNC Master Fund. Monarch Digital, Inc. ("Monarch Digital"), a wholly owned direct subsidiary of FalconX Holdings Limited, owns a majority of the equity interests in MNNC Capital GP LLC. . Each of MNNC Capital GP, Monarch Digital and FalconX Holdings Limited disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. The securities are held directly by MNNC Capital Digital Asset Opportunities BTC Master Fund, LP ("MNNC BTC Master Fund"). MNNC Capital GP is the general partner of MNNC BTC Master Fund and may be deemed to have voting and dispositive power with respect to the securities held by MNNC BTC Master Fund. Each of MNNC Capital GP, Monarch Digital and FalconX Holdings Limited disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. These securities are held directly by Solios, Inc. FalconX Alpha, Inc. ("FalconX Alpha"), a wholly-owned direct subsidiary of FalconX Holdings Limited, is the sole stockholder of Solios, Inc. Each of FalconX Alpha and FalconX Holdings Limited disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose. The Pre-Funded Warrants have no expiration date.
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FAQ
What does this Form 3 for Sharps Technology Inc. (STSS) show?
The Form 3 reports initial beneficial ownership in Sharps Technology by FalconX-affiliated entities. It lists indirect holdings of common stock plus large positions in stapled and pre-funded warrants that can convert into Sharps common shares at set exercise prices, some with no expiration.
What Sharps Technology warrants do Solios, Inc. and affiliates report?
Solios, Inc. reports indirect holdings of multiple warrant types, including 4,871,192 shares underlying cryptocurrency stapled warrants at $9.75 and 4,871,192 shares underlying cryptocurrency pre-funded warrants at $0.0001. Additional cash stapled and cash pre-funded warrants are also reported, all exercisable into Sharps common stock.
Do the Sharps Technology pre-funded warrants have an expiration date?
The filing states that the pre-funded warrants reported by Solios, Inc. have no expiration date. This applies to both the cash pre-funded warrants and the cryptocurrency pre-funded warrants, each exercisable into Sharps Technology common stock at an exercise price of $0.0001 per share.
How do FalconX and its subsidiaries describe their beneficial ownership of STSS?
FalconX Holdings Limited and affiliates state that securities are held directly by funds or Solios, Inc. They note that general partners or parents may be deemed to have voting and dispositive power, but each disclaims beneficial ownership beyond its pecuniary interest in the reported Sharps Technology securities.