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3d ago

Sharps Technology Extends Rally on $400 Million Solana Treasury Plan

A conditional deal for discounted SOL and backing from prominent crypto investors underscore the pivot into a dedicated digital-asset treasury.

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Overview

  • Shares are up roughly 130% over five sessions, trading near $15.35 on Thursday after a prior 174% intraday surge following the announcement.
  • The company arranged a private placement exceeding $400 million to acquire SOL and build treasury operations, with units priced at $6.50 and warrants exercisable at $9.75.
  • Sharps signed a non-binding letter of intent with the Solana Foundation for a potential $50 million SOL purchase at a 15% discount to a 30-day average, subject to conditions.
  • The financing is backed by ParaFi, Pantera, FalconX and Republic Digital, according to company disclosures.
  • Leadership moves include appointing Alice Zhang as chief investment officer and adding James Zhang as an advisor, while insiders bought 840,000 shares at $6.41 to $8.06.