Sharps Technology Inc. (STSS) witnessed a dramatic surge in its stock price following the announcement of a $400 million private placement aimed at establishing a significant Solana digital asset treasury. On August 25, 2025, the company's stock price jumped as high as 96% before settling to close the session up 82.32%.
The plan involves a private investment in public equity (PIPE) transaction, where common stock and warrants are sold at $6.50 per unit. Each unit includes warrants exercisable at $9.75 for three years, a 50% premium to the unit price. The deal is expected to close around August 28, 2025, subject to customary closing conditions.
Sharps Technology intends to allocate the proceeds primarily to acquire Solana (SOL) tokens in the open market. A non-binding letter of intent has been signed with the Solana Foundation to purchase $50 million worth of SOL at a 15% discount to the 30-day time-weighted average price, contingent on certain conditions.
Alice Zhang, the newly appointed Chief Investment Officer and Board member of Sharps Technology, emphasized Solana's role as a standard for digital infrastructure, offering high-throughput, low-cost, and real-time settlement for various assets. Paul K. Danner, executive chairman, stated that Sharps' advisory team and partnerships position the company to become a leading Solana-focused treasury.
The private placement has garnered substantial backing from notable financial institutions and digital asset leaders, including ParaFi, Pantera, Monarq, FalconX, and Phoenix Capital. The structure of the investment allows investors to fund their allocations using locked or unlocked SOL tokens in exchange for pre-funded and stapled warrants, directly linking equity exposure to the Solana blockchain. James Zhang has been added as a strategic advisor.
Sharps Technology's move reflects a growing trend of health sector companies venturing into digital assets. Other companies, such as Hoth Therapeutics, Atai Life Sciences, and 180 Life Sciences (now ETHZilla), have made similar investments in Bitcoin and Ethereum. However, Sharps Technology's strategy stands out due to its scale and specific focus on Solana.
Solana has experienced rapid expansion, with over 7,500 new developers in 2024 and $1.3 billion in app revenue in the first half of 2025. Daily trading volume on the network reaches $6 billion, establishing it as one of the most liquid digital assets globally.
