Sharps Technology Closes $400M, Eyes $1B Solana Treasury
Sharps Technology Closes $400M Private Placement, Kicks Off Solana Digital Asset Treasury Plan
Sharps Technology, Inc. announced it has successfully closed its previously revealed private placement of common stock and stapled warrants, raising more than $400 million in gross proceeds. If all warrants are exercised, the transaction could generate up to $1 billion, positioning the company as one of the largest Solana-focused treasury firms globally.
Strategic Solana Treasury Launch
Proceeds from the raise will primarily fund the acquisition of SOL, the native cryptocurrency of the Solana blockchain. The company confirmed plans to launch a digital asset treasury strategy centered on Solana, which it describes as the world’s fastest and most active public blockchain, processing more transactions and generating higher on-chain fee revenues than its peers.
Sharps Technology has also signed a letter of intent (LOI) with the Solana Foundation. Under the agreement, the Foundation has pledged to sell $50 million in SOL at a 15% discount, contingent upon conditions and funded through a future public offering.
Strong Institutional Backing
The financing attracted a consortium of top-tier financial institutions and digital asset leaders, including Pantera, ParaFi, FalconX, Monarq, Phoenix Digital, Republic Digital, Arrington Capital, Quantstamp, CoinList Alpha, Hypersphere, Borderless Capital, Bastion Trading, RockawayX, and more.
Alice Zhang, Chief Investment Officer and Board Member, stated: “Solana can support any asset trading worldwide, and demand is only accelerating. With support from world-class investors, our experienced team is ready to execute a long-term vision within the Solana ecosystem.”
Executive Chairman Paul K. Danner added: “This placement lays the foundation for what we view as a generational opportunity. Our capital strength and expertise uniquely position us to deliver sustainable value to shareholders.”
Transparency And Corporate Continuity
Sharps Technology plans to regularly update investors on its Solana holdings and performance metrics, aiming for maximum transparency. While executing its digital treasury strategy, the company also confirmed its continued focus on medical device distribution, especially in smart-syringe and pharmaceutical packaging.
To support operations, James Zhang will act as Strategic Advisor, collaborating with institutions such as Pantera and Monarq to expand the treasury initiative.
Advisors & Legal Counsel
- Cantor Fitzgerald & Co. acted as lead placement agent.
- Aegis Capital Corp. served as co-placement agent.
- Madison Global Partners acted as financial advisor.
- Legal advisors included DLA Piper LLP, Ellenoff Grossman & Schole LLP, Kaufman & Canoles, P.C., Sichenzia Ross Ference Carmel LLP.
About Sharps Technology
Sharps Technology is a medical device innovator, specializing in smart-safety syringes and pharmaceutical packaging. Beyond healthcare, the company has adopted a Solana-based digital asset treasury strategy, utilizing capital market raises to build yield-generating reserves on-chain.
Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.