Sharps Technology Secures $400M Private Placement to Build Revolutionary Solana Treasury

Sharps Technology just pulled off a massive $400M private placement—and they're betting it all on Solana.

The Treasury Transformation

Forget traditional corporate treasury management. Sharps is diving headfirst into blockchain, deploying fresh capital to build a next-generation treasury infrastructure on Solana's blazing-fast network. No more legacy systems, no more intermediaries—just pure digital asset efficiency.

Why Solana? Speed, scalability, and serious institutional credibility. While some finance traditionalists might scoff—another 'crypto experiment' funded by private money—Sharps clearly sees the writing on the wall. Traditional treasury management looks downright archaic compared to real-time, on-chain transparency.

This isn't just a diversification play. It's a full-scale modernization move. And at $400 million, it's hardly a side bet—it's a statement. Because let's be honest, if your corporate treasury isn't on-chain in five years, you're basically still using a fax machine.

Sharps Technology set on Solana treasury 

Per the company’s release, the proceeds from the offering will be used in SOL token acquisitions from the open market, which will in turn FORM a dedicated treasury operation for the sixth-largest coin by market cap. 

Sharps Technology is a Nasdaq-listed company in the medical device and pharmaceutical packaging business, where it supplies safety syringe products to healthcare providers. It creates ultra-low waste syringe technologies equipped with safety features, but earlier this year, it announced it could pivot to Blockchain-based investments.

The health technology firm has reportedly signed a non-binding letter of intent with the solana Foundation, a non-profit based in Zug, Switzerland. Under the agreement, the foundation will sell the company $50 million worth of SOL at a 15% discount to the 30-day time-weighted average price, subject to conditions tied to a public offering.

Cantor Fitzgerald & Co. is the lead placement agent for the transaction, while Aegis Capital Corp. served as co-placement agent. Madison Global Partners LLC provided financial advisory services to the company.

“Solana defines the standard for digital infrastructure, providing a high-throughput, low-cost, real-time settlement LAYER for everything from blue-chip equities to bonds to private assets,” Alice Zhang, Sharps Technology’s newly appointed Chief Investment Officer and board member, told reporters.

Zhang mentioned that the Solana treasury is an opportunity for the company to join the growing number of institutions interested in the token. She added that the company is building a team “with established connections” within the Solana ecosystem.

The company also appointed James Zhang, co-founder of Jambo, who has previously spoken at Solana Breakpoint, Davos, and Forbes events, in an advisory capacity. He will consult on treasury business alongside asset managers Monarq Asset Management, ParaFi, and Pantera.

Meanwhile, Solana’s native token, SOL, is trading at around $195, well below its 5, 10, and 20-hour moving averages, according to Coingecko data. 

Financial Performance in Q2 2025

The announcement of the PIPE transaction comes against the backdrop of Sharps Technology’s release of its Form 10-Q report for the second quarter of 2025. The company reportedly began generating revenues in the quarter, reporting net revenue of $222,722.

According to the document publicized on August 14, Sharps Technology posted a gross margin loss of $1,032,027, attributed to start-up costs tied to revenue generation. Loss from operations totaled $5,028,151, with heavy expenditures falling on research and development, as well as general administrative costs.

However, the company reported a net income of $5,488,141 for the quarter, from a fair market value gain of $11,087,700 on warrants. Basic and diluted net income per share came to $10.45, a figure significantly affected by the warrant valuation.

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