Solana News Today: Sharps Technology Raises $400M to Build Largest Solana Treasury in Corporate History

Sharps Technology Inc. (NASDAQ: STSS) has announced a $400 million private placement offering to construct what the company claims will be the largest corporate Solana treasury. The move represents a major strategic shift for the Nasdaq-listed firm, which previously operated in the medical device sector. Under the offering, the company plans to raise capital through the issuance of common stock and warrants at $6.50 per unit, with warrants exercisable at $9.75 for three years. Investors will also have the option to fund their participation using SOL, the native token of the Solana blockchain [3].

The private investment in public equity (PIPE) is expected to close on or around August 28, 2025. Proceeds will be primarily allocated to the purchase of Solana (SOL) on the open market, as well as the expansion of treasury operations. Notably, Sharps has also entered into a non-binding letter of intent with the Solana Foundation, under which it could purchase $50 million worth of SOL at a 15% discount to the 30-day average price, subject to certain conditions [3].

Alice Zhang, Sharps Technology’s newly appointed Chief Investment Officer and board member, emphasized the strategic timing of the move. She cited the rapid institutional adoption of Solana, low transaction costs, and the network’s vision for a global market for tradable assets as key factors behind the company’s decision [3]. Zhang also noted that the blockchain’s staking yields currently sit at 7%, one of the highest among major blockchains [1].

The company’s stock responded positively to the announcement, surging over 50% in pre-market trading and reaching a high of $13.28 per share in one session. As of late August, shares were trading near $10.35, a significant increase from earlier levels in the year. Analysts have suggested that the move could redefine Sharps Technology’s corporate identity, shifting it from a traditional medical device company to a major player in the digital asset space [1].

The announcement places Sharps Technology among a growing number of publicly traded firms exploring digital asset treasury strategies. It joins crypto-native firms such as Galaxy Digital, Jump Crypto, and Multicoin Capital, which are reportedly in early discussions to raise a $1 billion fund focused on Solana. These developments signal a broader trend of institutional investors allocating capital to digital assets in pursuit of higher returns [3].

Solana’s native token, SOL, has also seen increased attention in recent weeks. The token’s price has hovered around $190 per coin, following a six-month high of $212. While it experienced a 6% dip over a 24-hour period, it remains well above its mid-year lows. The growing institutional interest in Solana-based assets is viewed as a key factor in the token’s valuation and the corporate strategies of firms like Sharps Technology [3].

Sharps Technology has not provided further commentary beyond Zhang’s remarks, but the offering has been widely covered by both financial and crypto media. The firm has issued a press release confirming the private placement, which is structured as a PIPE—a common method for raising capital quickly and efficiently without the need for a full public offering [8].

The company’s pivot to a digital asset-focused treasury strategy is one of the most significant moves in the corporate adoption of Solana. If successful, it could set a precedent for how publicly traded companies approach digital asset allocation, particularly in a market where traditional treasuries have underperformed compared to crypto opportunities. The company’s stock performance since the announcement suggests strong investor confidence in the strategy, although the broader crypto market remains subject to volatility [1].

Source:

[1] https://finance.yahoo.com/news/medical-device-firms-stock-spikes-201843107.html

[3] https://www.ainvest.com/news/solana-news-today-sharps-raises-400m-build-largest-solana-treasury-stock-soars-70-2508/

[5] https://ir.sharpstechnology.com/press-releases/

[8] https://www.nasdaq.com/articles/sharps-technology-prices-400-mln-pipe-build-sol-treasury-shares-surge-54-pre-market