Full Press Release Details
Sharps Technology Announces Reverse Stock Split
NEW YORK, April 24, 2025 (GLOBE
NEWSWIRE) -- Sharps Technology, Inc. (NASDAQ: "STSS" and "STSSW") ("Sharps"), an innovative
medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare
industry, today announced that it will effect a 1-for-300 reverse stock split (the "reverse split") of its common stock,
par value $0.0001 per share (the "Common Stock"), that will become effective on April 27, 2025 at 11:59 PM Eastern Time,
before the opening of trading on The Nasdaq Capital Market ("Nasdaq"). Sharps has requested that its Common Stock begin
trading on April 28, 2025, on a post-reverse split basis on the Nasdaq under the existing symbol "STSS".
The reverse split is primarily intended to bring Sharps
into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq. The new CUSIP number for the Common
Stock following the reverse split will be 82003F309.
The reverse split was effected by the Sharps'
Board of Directors (the "Board"), pursuant to Section 78.207 of the Nevada Revised Statutes, without shareholder approval
as the reverse split provides for a proportionate reduction in the number of both the authorized and outstanding shares and does not adversely
affect any other classes of stock of the Company. The Company's amended and restated Articles of Incorporation, filed with the Nevada
Secretary of State, reduce the authorized common shares from 500,000,000 to 1,666,667 and effectuate a reverse split of 1-for-300.
About Sharps Technology:
Sharps 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 also offers products that are designed with specialized copolymer technology to support
the prefillable syringe market segment. The Company has a manufacturing facility in Hungary. For additional information, please visit
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking
statements". Forward-looking statements reflect our current view about future events. When used in this press release, the words
"anticipate," "believe," "estimate," "expect," "future," "intend,"
"plan," "poised" or the negative of these terms and similar expressions, as they relate to us or our management,
identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating
to our business strategy, our future operating results and liquidity, and capital resources outlook. Forward-looking statements are based
on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to
predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements
of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking
statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include,
without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights;
the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability
to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions;
and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those
anticipated, believed, estimated, expected, intended, or planned. Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity,
performance, or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of this release.
Email: IR@sharpstechnology.com