Overview

• The $400 million PIPE, with Cantor Fitzgerald as lead placement agent, priced at $6.50 per unit with warrants exercisable at $9.75, and is expected to close around August 28.
• Investors named by the company include ParaFi, Pantera Capital, CoinFund, FalconX, Arrington Capital, Monarq, Phoenix Capital, and other digital-asset firms.
• Sharps said it signed a nonbinding letter with the Solana Foundation to purchase $50 million in SOL at a 15% discount to a 30‑day average price, contingent on conditions.
• The company appointed Jambo cofounder Alice Zhang as chief investment officer and board member, with James Zhang joining as a strategic adviser to guide the Solana strategy.
• Sharps shares jumped intraday by roughly 70% on the announcement, while Bloomberg reported that Galaxy Digital, Multicoin Capital, and Jump are seeking about $1 billion for a rival Solana treasury and DFDV disclosed a separate $125 million equity raise.