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Technology, Inc. Announces Over $400 Million Private Placement Seeking to Establish the Largest Solana Digital Asset Treasury Strategy
include leading financial institutions and digital asset market leaders such as ParaFi, Pantera, Monarq, FalconX, Phoenix Capital, Bastion
Trading, RockawayX, Syncracy, Borderless, Republic Digital, Arche Capital, CoinFund, Arrington Capital, Quantstamp, CoinList Alpha, Primitive
Ventures, Avenir, Hypersphere, and more
York - August 25, 2025 - Sharps Technology, Inc. (the "Company" or "Sharps Technology") (Nasdaq:
"STSS" and "STSSW") today announced the pricing of a private placement offering to support its plans to adopt
a 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.
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," said Alice Zhang, the Company's newly appointed Chief Investment Officer
and Board member. "Global adoption of Solana's ecosystem is accelerating as it continues to receive institutional support
for its vision of a single global market for every tradeable asset, making now the right time to establish a digital asset treasury strategy
with SOL. We will have a team with deep ties to the Solana ecosystem and proven founder-level experience in scaling institutional digital
asset platforms, which we believe will set the Company up for success."
believe our digital asset-native advisory team, defined accumulation strategy, and partnerships with top-tier asset managers position
us well to become a leading SOL treasury," said Paul K. Danner, Executive Chairman of Sharps Technology.
Zhang, co-founder of Jambo and a well-known public figure in the Solana space with prior speaking engagements at Solana Breakpoint, Davos,
Forbes, and more, will serve as strategic advisor and consultant to the Company. He will be working with top-tier asset managers including
Monarq Asset Management, ParaFi, and Pantera to grow the digital asset treasury.
is internet capital markets, the next evolution in global finance," said Mr. Zhang. "Solana is #1 in staking yield, chain
revenue, and app revenue amongst all major blockchains. We believe creating a digital asset treasury will generate significant long-term
value for Sharps Technology's shareholders."
Compelling Growth Story with Attractive Yields
is the Fastest and Most Used Blockchain in the World
Source: Artemis Analytics, Daily Transactions (Chain), as of Aug. 18, 2025
Source: Blockworks, Solana: Onchain Activity (Q2)
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Vision of a Unified Infrastructure Supported by TradFi Institutions
offering consists of an over $400 million private investment in public equity transaction ("PIPE") for the purchase and sale
of common stock (and/or pre-funded warrants to purchase shares of common stock) and stapled warrants to purchase shares of common stock
at a purchase price of $6.50 per unit. The stapled warrants will be exercisable for a period of three years and have an exercise price
equal to $9.75 (equal to 150% of the per unit price). Investors that intend to fund their purchase amount with locked and/or unlocked
SOL in the offering will be issued and sold pre-funded warrants and stapled warrants, which warrants will become exercisable immediately
following the Company's receipt of stockholder approval. The PIPE transaction is expected to close on or around August 28, 2025,
subject to the satisfaction of customary closing conditions.
closing, the Company intends to use the net proceeds from the offering primarily to fund the acquisition of SOL in the open market and
the establishment of the Company's SOL treasury operations, as well as for working capital and general corporate purposes. Sharps
Technology has signed a non-binding letter of intent (LOI) 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, solely from the proceeds of a public offering by the Company, to selling $50 million of SOL at a 15% discount to a 30-day
time-weighted average price, subject to certain conditions being met.
Zhang is the Co-Founder of Jambo, the first web3 phone with a built-in decentralized app store. She scaled distribution to 120+ countries,
launching the largest mobile network on Solana. Ms. Zhang previously co-founded Avalon Capital, a global fund of funds specializing in
digital assets and technology. She is an experienced investor and partner of many top digital asset industry leaders.
Zhang is the Chief Executive Officer and Co-Founder of Jambo, raising $40M+ from Paradigm, Pantera Capital, ParaFi Capital, Tiger Global,
Coinbase, and others. He has been an active investor in the digital asset industry since 2017, including companies such as Coinbase,
Bitmain, Messari, and others.
Fitzgerald & Co. served as lead placement agent to the Company and Aegis Capital Corp. acted as co-placement agent to the Company.
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Global Partners, LLC served as a financial advisor to the Company.
Grossman & Schole LLP served as counsel to Sol Markets, the Company's strategic advisor.
Piper LLP (US) served as counsel to Cantor Fitzgerald & Co.
& Canoles, P.C. served as counsel to Aegis Capital Corp.
Ross Ference Carmel LLP served as counsel to the Company.
information provided in this press release is intended for informational purposes only and does not constitute investment advice, endorsement,
analysis, or recommendations with respect to any financial instruments, investments, or issuers. Investment in cryptocurrency and DeFi
projects involves substantial risk, including the risk of complete loss. This press release does not take into account the investment
objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial
advisors before making any investment decisions.
press release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. This press release also includes express
and implied forward-looking statements regarding the Company's current expectations, estimates, opinions and beliefs that are not
historical facts. Such forward-looking statements may be identified by words such as "believes," "expects," "endeavors,"
"anticipates," "intends," "plans," "estimates," "projects," "should"
and "objective" and the negative and variations of such words and similar words. These statements are made on the basis of
current knowledge and, by their nature, involve numerous assumptions and uncertainties. Nothing set forth herein should be regarded as
a representation, warranty or prediction that we will achieve or are likely to achieve any particular future result. Actual results may
differ materially from those indicated in the forward-looking statements because the realization of those results is subject to many
risks and uncertainties, including the risk that the proposed transactions described herein may not be completed in a timely manner or
at all, the failure to realize the anticipated benefits of the private placement and related transactions, including the proposed digital
asset treasury strategy, economic conditions, fluctuations in the market price of SOL, the impact on the Company's business of
the evolving regulatory environment, the ability of the Company to execute on its digital asset treasury strategy, as well as other factors.
Forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertake no
duty to update such information except as required under applicable law.
Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe
products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities that incorporate
syringe technologies that use both passive and active safety features. Sharps Technology also offers products that are designed with
specialized copolymer technology to support the pre-fillable syringe market segment. For additional information, please visit www.sharpstechnology.com.
Company has adopted a digital asset treasury strategy focused on accumulating SOL, the native digital asset of the Solana blockchain,
leveraging capital markets raises that produce consistent on-chain yield generation. Sharps Technology, following the closing of the
PIPE and adoption of its digital asset treasury strategy will provide access to the Solana network, the fastest and most used blockchain
Partners for Sharps Technology