NEW YORK, Aug. 28, 2025 /PRNewswire/ -- Sharps Technology, Inc. (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 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 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.
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.
“Solana is capable of handling any tradable asset, everywhere in the world, and demand is only increasing. With the backing of premier financial and digital asset investors, we believe we are well equipped to execute on our vision.”
“This transaction provides the foundation for what we see as a generational opportunity. Our capital base and experienced team enable us to execute a differentiated strategy designed to create meaningful, long-term value for our shareholders.”
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