Sharps Technology (STSS) stock rocketed higher on Monday after the medical device company announced a $400 million private placement. The money gained from this private placement will be used to adopt a digital asset treasury strategy that will see it hold Solana (SOL) tokens.
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Sharps Technology will use a private investment in public equity (PIPE) that will price units at $6.50 each. Each unit contains one share of STSS stock and a warrant to acquire another share. The warrants expire three years after being issued and have an exercise price of $9.75. The PIPE is expected to close on or around Aug. 28, 2025.
As part of its plan to create a digital asset treasury strategy, Sharps Technology has brought on James Zhang as a strategic advisor and consultant. Zhang is the co-founder of Jambo and a well-known figure in the Solana space. He will work alongside asset managers Monarq Asset Management, ParaFi, and Pantera to grow the Solana treasury.
Sharps Technology Stock Movement Today
Sharps Technology stock was up 49.56% in pre-market trading on Monday, following a 16.28% rally on Friday. Even so, the shares were still down 98.81% year-to-date and 99.57% over the past 12 months. With today’s movement came heavy trading, as some 7.7 million shares traded, compared to a three-month daily average of about 73,000 units.
Sharps Technology joins a growing list of companies that have created digital asset treasury strategies. This follows the success of Strategy (MSTR) after it shifted to become a Bitcoin (BTC) treasury.
