NEW YORK, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., a U.S.-based medical device sales and distribution platform that has adopted a Solana-based treasury strategy, today announced financial results for the third quarter ended September 30, 2025. The Company raised gross proceeds of $411 million through a PIPE financing and holds over 2.0 million SOL in its treasury.
- •Raised gross proceeds of $411 million through PIPE funded with $267 million in cash and stablecoins and $144 million in SOL
- •As of October 31, 2025, STSS holds over 2.0 million SOL in its treasury
- •Generated approximately $17.7 million of combined staking revenue and digital-asset fair-value gains in Q3
- •Cash and stablecoin liquidity stands at approximately $25.2 million as of September 30, 2025
- •Completed planned exit from legacy syringe manufacturing, streamlining operations
Sharps Technology completed its planned exit from legacy syringe manufacturing, significantly streamlining operations and reducing ongoing costs. With this transition, the Company is now fully focused on two strategic priorities: sale and distribution of medical device products with focus on higher margins and operational efficiency, and maximizing the value of its SOL-based digital asset treasury through staking and ecosystem participation.
Together, these initiatives position the Company to drive higher margins, strengthen its financial profile, and enhance long-term shareholder value.
Going forward, Sharps enters the fourth quarter of 2025 with a significantly strengthened financial position, meaningful digital asset income streams, and a simplified operating footprint. Management remains focused on maintaining its medical device distribution business, optimizing yields across its Solana ecosystem holdings, and leveraging capital markets access to support long-term growth.
“The third quarter was transformative for Sharps Technology. Our adoption of a Solana-based treasury strategy, combined with a successful $411 million PIPE financing, has created the strongest balance sheet in the Company’s history. With more than two million SOL in our treasury, growing staking rewards, and a more efficient operating model, Sharps is now better positioned to pursue more viable business strategies and deliver long-term value for shareholders.”
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