07:40 AM EDT, 08/25/2025 (MT Newswires) -- Sharps Technology ( STSS ) said it has priced over $400 million private placement offering of common shares at $6.50 per unit, with stapled warrants to purchase common stock exercisable at $9.75 for three years.

ParaFi, Pantera and Monarq, along with other investors, are participating in the offering, the company said.

Net proceeds from the offering, which is set to close around Aug. 28, will be used to buy Solana in the open market and establish Solana-focused treasury operations, as well as for working capital and general corporate purposes.

Sharps said it has signed a non-binding letter of intent with the Solana Foundation to buy $50 million of Solana at a 15% discount.

Shares of Sharps Technology ( STSS ) rose more than 48% in recent premarket activity Monday.

Price: 10.75, Change: +3.57, Percent Change: +48.47