Sharps Technology Secures $400M PIPE to Build Solana-Centered Digital Asset Treasury

- Nasdaq-listed Sharps Technology raises $400 million to pivot toward blockchain investments. - Plans $50M SOL purchase via Solana Foundation at a 15% discount. Sharps Technology (STSS), a Nasdaq-listed medical device company, announced a $400 million private investment in public equity (PIPE) financing on August 25, 2025. The company will use this funding to establish a digital asset treasury centered on Solana's native token (SOL), a move that marks a significant strategic shift toward blockchain-based ventures. On the same day, PR Newswire reported that Sharps Technology entered into a non-binding letter of intent with the Solana Foundation. The company plans to purchase $50 million worth of SOL at a 15% discount to the 30-day time-weighted average price. This agreement, subject to a public offering, underscores the company’s deepening focus on blockchain opportunities. The PIPE financing included the sale of common stock and stapled warrants, with each unit priced at $6.50. Investors can exercise the warrants over three years at $9.75. The company expects the deal to close by August 28, 2025. Following the news, Sharps Technology’s shares soared over 50% in premarket trading. To drive its blockchain transition, the company appointed Alice Zhang as Chief Investment Officer and a board member. Zhang brings expertise in digital asset management. In addition, James Zhang, co-founder of Jambo, joined as a strategic advisor for treasury operations. Sharps Technology also collaborated with leading asset managers, including Monarq Asset Management, ParaFi, and Pantera, to manage its digital asset initiatives. According to Coinpedia, as of 15:08 UTC on August 25, Solana (SOL) traded at $198.154, down 4.4% over the previous 24 hours.