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Benzinga
Benzinga
Business
Akanksha Bakshi

Sharps Technology Stock Soars Over 50% After $400 Million Solana Treasury Bet

Solana SOL Sharps blockchain Crypto United States
Flowers For The Solana Foundation

Sharps Technology Inc. (NASDAQ:STSS) shares skyrocketed on Monday after the company announced it will raise more than $400 million through a private placement to fund a digital asset treasury anchored by Solana (CRYPTO: SOL/USD), the native token of the Solana blockchain.

The transaction, structured as a private investment in public equity at $6.50 per unit, includes warrants exercisable at $9.75 for three years. The offering is expected to close around Aug. 28, 2025, with backing from ParaFi, Pantera, FalconX, and Republic Digital.

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