This stock jumps over 50% on establishment of ‘largest Solana’ treasury

Sharps Technology (NASDAQ: STSS) shares surged in premarket trading on Monday after the company announced plans to establish what it called the “largest Solana ( SOL )-based digital asset treasury strategy.” Notably, STSS jumped 54.45% to $11.36 in premarket, up from Friday’s close of $7.36. Despite the sharp move, the stock remains down 98% year to date, though it has gained 45% over the past ￰0￱ STSS stock is rallying The rally followed news of a private placement of more than $400 million , structured as a private investment in public equity (PIPE). The deal involves the sale of common stock and warrants at $6.50 per unit, with attached warrants exercisable for three years at $9.75, roughly 50% above the unit ￰1￱ is expected around August 28, pending customary ￰2￱ from the offering will primarily be used to acquire Solana ￰3￱ Technology, a medical device and pharmaceutical packaging firm, has also entered into a non-binding agreement with the Solana Foundation to purchase $50 million worth of SOL at a 15% discount to its 30-day time-weighted average price, subject to certain ￰4￱ financing round attracted major institutional and digital asset investors, including ParaFi, Pantera, Monarq, FalconX, Phoenix Capital, Bastion Trading, RockawayX, Syncracy, Borderless, Republic Digital, Arche Capital, CoinFund, Arrington Capital, Quantstamp, CoinList Alpha, Primitive Ventures, Avenir, and ￰5￱ leadership To advance its strategy, the company appointed Alice Zhang as Chief Investment Officer and board member, while also bringing on James Zhang, co-founder of Jambo and a well-known figure in the Solana ecosystem, as a strategic ￰6￱ will work alongside asset managers such as Monarq Asset Management, ParaFi, and Pantera to build and oversee the ￰7￱ move aligns Sharps Technology with a growing number of traditional companies venturing into cryptocurrency, following the example of pioneers like Strategy (NASDAQ: MSTR).

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