Sharps Tech SEC Filings

SkyAI, Inc., formerly Sharps Technology, Inc., has amended its Nevada articles of incorporation to change its corporate name and align with a new AI-driven strategy. Its common stock now trades on Nasdaq under the ticker SKYA and its warrants under SKYAW, replacing STSS and STSSW. The company is pivoting from its legacy operations to build an agentic finance platform for the Global South, combining artificial intelligence with blockchain-based infrastructure, including stablecoin rails and the Solana network. It has opened an operational headquarters in Hong Kong to support licensing, hiring and regional expansion, and discloses extensive operational, legal, regulatory, cybersecurity and competitive risks tied to its AI and digital asset-focused strategy, including evolving AI regulation such as the EU’s AI Act.

SkyAI, Inc. entered into an employment agreement with Arthur Levine and appointed him as its Chief Financial Officer, effective May 22, 2026. Levine, age 68, had been serving as interim CFO since February 2026 and has extensive prior CFO experience at public companies.

Under the agreement, he will receive a base salary of $400,000 per year and is eligible for an annual cash bonus equal to 50% of base salary, contingent on performance and continued employment. He will also be considered for additional equity-based awards at the board’s discretion.

If SkyAI terminates him without cause or he resigns for good reason, he is entitled to severance equal to one times base salary and accelerated vesting of outstanding equity, subject to a release. If such a termination occurs in connection with a change in control, cash severance increases to three times base salary, with equity also accelerating.

Sharps Technology, Inc. (STSS) — Schedule 13G/A amendment reporting beneficial ownership by Saba Capital and related persons. The amendment states the Reporting Persons share voting and dispositive power over 3,050,450 shares, representing 6.95% of the class based on 42,322,168 shares outstanding as of May 8, 2026 plus 1,538,462 shares issuable upon exercise of certain warrants. The filing identifies Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein as joint filers and notes the funds and accounts advised by Saba Capital have rights to dividends and sale proceeds.

Sharps Technology, Inc. reporting persons filed an amended Schedule 13G/A disclosing shared beneficial ownership positions in the company's common stock as of May 15, 2026.

The filing lists aggregate holdings including 4,355,147 shares attributable to Wei Zhu (capped at 9.99% by warrant blockers) and shows a disclosed outstanding share base of 42,322,168 shares as of May 8, 2026. The filing states pre-funded warrants exercisable for 4,234,615 shares and stapled warrants exercisable for 5,384,615 shares held by Bastion Trading.

Sharps Technology reported a sharp swing to loss in the quarter ended March 31, 2026 as its new digital commodity treasury strategy dominated results. Net revenue from medical devices was modest at $192,780, while staking revenue from Solana-based holdings contributed $3.1 million.

The company recorded an unrealized loss on digital commodities of $70.8 million and a realized loss of $10.8 million, driving a net loss of $86.2 million, or $1.19 per share, compared with net income a year earlier. Fair value of SOL holdings fell to $162.5 million from $250.1 million at December 31, 2025, despite maintaining over 2.0 million SOL tokens.

Cash increased to $12.3 million as SOL sales and staking inflows outweighed operating and financing outflows. The company repurchased 867,678 shares for about $1.6 million and ended the quarter with stockholders’ equity of $178.8 million against minimal liabilities. Segment reporting now separates medical devices from the digital commodity treasury, underscoring the strategic pivot toward Solana-based assets.

Sharps Technology, Inc. details a major strategic pivot in its annual report, combining its legacy syringe distribution business with a new, SOL-focused digital asset treasury strategy funded by an approximately $400 million PIPE.

The company reports holding over 2,000,000 SOL, intends to stake up to 95% of its SOL, and uses multiple qualified custodians. It incurred a $282.5 million net loss in 2025, versus $9.3 million in 2024, leading to an accumulated deficit of $316.9 million. Sharps also launched a large at-the-market equity program and a $100 million share repurchase authorization, while entering a 20-year consulting agreement tied to the value of its digital assets.

Sharps Technology, Inc. appointed Arthur Levine as interim Chief Financial Officer under a fee agreement with DLA, LLC. His initial term is three months starting February 17, 2026, with any extension at the company’s discretion, and DLA will be paid $450 per hour for his services.

Levine is an experienced financial executive who has held CFO roles at public companies in healthcare and energy-related services and is a Certified Public Accountant. He has also signed the company’s standard indemnification agreement. Executive Chairman Paul Danner will serve as Principal Financial Officer while the company conducts its search for a permanent CFO.

Sharps Technology, Inc. now has a significant new shareholder group led by FalconX affiliates. FalconX Holdings Limited may be deemed to beneficially own 6,563,498 shares of common stock, or about 16.5% of the company, including shares issuable from stapled warrants that are exercisable within 60 days based on 33,363,003 shares outstanding as of January 20, 2026.

Subsidiaries Solios, Inc. and FalconX Alpha, Inc. each may be deemed to beneficially own 5,794,268 shares, or roughly 14.9%. MNNC-related funds and entities together hold smaller positions primarily through cash stapled warrants. On January 9, 2026, Solios acquired 461,538 shares through a cashless exercise of cash pre-funded warrants, while MNNC Master Fund and MNNC BTC Master Fund sold shares in open-market trades at prices around $1.93 to $1.97 per share.

The investor group states the securities were acquired for investment and to gain exposure to Sharps Technology’s business and growth prospects. They are already in discussions with management and the board regarding strategy, governance, and potential changes to the board and business approach, though they do not currently commit to specific transactional plans.

Sharps Technology major holder FalconX Holdings Limited and affiliated entities reported significant share activity. MNNC Capital Digital Asset Opportunities Master Fund LP and MNNC Capital Digital Opportunities BTC Master Fund LP sold a combined 769,320 shares of common stock on January 9 and 12, 2026 at prices around $1.93–$1.97 per share, reducing their indirect holdings in these funds to zero. On January 9, 2026, Solios, Inc., an affiliate of FalconX, exercised 461,538 cash pre-funded warrants with a $0.0001 exercise price into the same number of Sharps Technology common shares. The footnotes state that FalconX and its intermediate entities disclaim beneficial ownership except to the extent of their pecuniary interests.