Sharps Technology Secures $400 Million Private Placement, Launches Solana Digital Asset Treasury Strategy

Sharps Technology has closed a private placement of common stock and warrants, generating over $400 million in gross proceeds. The company plans to use the funds to establish a digital asset treasury strategy, primarily holding Solana (SOL), the native cryptocurrency of the Solana blockchain. If all warrants are exercised, the total proceeds could reach $1 billion, making Sharps Technology one of the largest Solana treasury companies.

Sharps Technology, Inc. (STSS, STSSW) has successfully closed a private placement of common stock and warrants, raising over $400 million in gross proceeds. The company plans to utilize these funds to establish a digital asset treasury strategy, with a primary focus on accumulating Solana (SOL), the native cryptocurrency of the Solana blockchain. If all warrants are exercised, the total proceeds could reach $1 billion, positioning Sharps Technology as one of the largest Solana treasury companies [1].

The private investment in public equity (PIPE) transaction involved the purchase and sale of common stock and pre-funded warrants at a price of $6.50 per unit. The stapled warrants, exercisable for three years, have an exercise price of $9.75, representing a 150% premium over the per-unit price. Investors who intend to fund their purchases with SOL will receive pre-funded and stapled warrants that become exercisable immediately following stockholder approval [1].

Upon closing, scheduled for August 28, 2025, subject to customary conditions, Sharps Technology will use the net proceeds to fund the acquisition of SOL in the open market and establish its SOL treasury operations. Additionally, the funds will support working capital and general corporate purposes. The company has signed a non-binding letter of intent with the Solana Foundation, committing to selling $50 million of SOL at a 15% discount to the 30-day time-weighted average price, contingent on specific conditions being met [1].

Alice Zhang, newly appointed Chief Investment Officer and Board member, commented on the strategic move: "Solana defines the standard for digital infrastructure, providing a high-throughput, low-cost, real-time settlement layer for various assets. Global adoption of Solana's ecosystem is accelerating, making it the right time to establish a digital asset treasury strategy with SOL. Our team's deep ties to the Solana ecosystem and proven founder-level experience will set us up for success" [1].

James Zhang, co-founder of Jambo and a prominent figure in the Solana space, will serve as a strategic advisor and consultant to Sharps Technology. He will collaborate with top-tier asset managers, including Monarq Asset Management, ParaFi, and Pantera, to grow the digital asset treasury [1].

Sharps Technology's decision to adopt a digital asset treasury strategy aligns with the growing adoption of Solana, the fastest and most used blockchain globally. Solana offers attractive yields, with a current staking yield of approximately 7%, and has seen significant growth in developer count, revenue, and transaction volume [1].

References:
[1] https://www.prnewswire.com/news-releases/sharps-technology-inc-announces-over-400-million-private-placement-seeking-to-establish-the-largest-solana-digital-asset-treasury-strategy-302537587.html