Sharps Technology raises $400M in private placement to build Solana treasury

Drug delivery solutions company Sharps Technology, ￰0￱ announced a private placement financing valued at more than $400 million to support the creation of a digital asset treasury centered on Solana’s native token, ￰1￱ to a Monday press release revealing the funding round, the private investment in public equity transaction (PIPE) will include the purchase and sale of common stock, pre-funded warrants, and stapled ￰2￱ unit was priced at $6.50, scheduled to close around August 28, 2025, the company’s announcement ￰3￱ Technology mentioned that stapled warrants will be exercisable for three years at $9.75, 150% of the per-unit ￰4￱ who choose to fund their purchases with SOL, locked or unlocked, will receive pre-funded warrants and warrants exercisable once the company receives stockholder ￰5￱ to Google Finance data, shares of Sharps Technology, STSS, traded 4.4% higher in the US premarket trading session, climbing to $11.90 within the ￰6￱ Technology set on Solana treasury Per the company’s release , the proceeds from the offering will be used in SOL token acquisitions from the open market, which will in turn form a dedicated treasury operation for the sixth-largest coin by market ￰7￱ Technology is a Nasdaq-listed company in the medical device and pharmaceutical packaging business, where it supplies safety syringe products to healthcare ￰8￱ creates ultra-low waste syringe technologies equipped with safety features, but earlier this year, it announced it could pivot to Blockchain-based ￰9￱ health technology firm has reportedly signed a non-binding letter of intent with the Solana Foundation, a non-profit based in Zug, ￰10￱ the agreement, the foundation will sell the company $50 million worth of SOL at a 15% discount to the 30-day time-weighted average price, subject to conditions tied to a public ￰11￱ Fitzgerald & ￰12￱ the lead placement agent for the transaction, while Aegis Capital ￰13￱ as co-placement ￰14￱ Global Partners LLC provided financial advisory services to the company. “ Solana defines the standard for digital infrastructure, providing a high-throughput, low-cost, real-time settlement layer for everything from blue-chip equities to bonds to private assets ,” Alice Zhang, Sharps Technology’s newly appointed Chief Investment Officer and board member, told ￰15￱ mentioned that the Solana treasury is an opportunity for the company to join the growing number of institutions interested in the ￰16￱ added that the company is building a team “with established connections” within the Solana ￰17￱ company also appointed James Zhang, co-founder of Jambo, who has previously spoken at Solana Breakpoint, Davos, and Forbes events, in an advisory ￰18￱ will consult on treasury business alongside asset managers Monarq Asset Management, ParaFi, and Pantera.

Meanwhile, Solana’s native token, SOL, is trading at around $195, well below its 5, 10, and 20-hour moving averages, according to Coingecko ￰19￱ Performance in Q2 2025 The announcement of the PIPE transaction comes against the backdrop of Sharps Technology’s release of its Form 10-Q report for the second quarter of ￰20￱ company reportedly began generating revenues in the quarter, reporting net revenue of $222,722. According to the document publicized on August 14, Sharps Technology posted a gross margin loss of $1,032,027, attributed to start-up costs tied to revenue ￰21￱ from operations totaled $5,028,151, with heavy expenditures falling on research and development, as well as general administrative costs.

However, the company reported a net income of $5,488,141 for the quarter, from a fair market value gain of $11,087,700 on ￰22￱ and diluted net income per share came to $10.45, a figure significantly affected by the warrant ￰23￱ up to Bybit and start trading with $30,050 in welcome gifts