Sharps Technology announces a $400 million private sale to establish a Solana digital asset strategy.



According to news from Hash World, Sharps Technology (NASDAQ: STSS/STSSW) has announced a private sale plan exceeding $400 million to support its digital asset portfolio strategy. According to the plan, the company's main holdings will be the native digital asset SOL of the Solana blockchain. The PIPE transaction is expected to be completed around August 28, 2025, but must meet customary closing conditions. After the transaction is completed, the company plans to use the net proceeds from this issuance primarily to acquire SOL in the open market, establish a company SOL fund operations department, and for working capital and general corporate purposes. Sharps Technology has signed a non-binding letter of intent (LOI) with the Solana Foundation. Under the terms of the LOI, the Solana Foundation commits to selling $50 million worth of SOL at a discount of 15% to the 30-day time-weighted average price, using only the proceeds from the company's public offering, but certain conditions must be met.

$SOL #Cryptocurrency # Solana #Blockchain # DigitalAssets #CryptoInvestment
SOL-5.41%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)