Sharps Technology bets $400 million on Solana, shares surge 50%
- Sharps Technology Announces Cryptocurrency Treasury with Solana
- US$400 million investment boosts STSS shares
- Solana Network Grows with High Liquidity and New Developers
Sharps Technology Inc. (STSS) saw its shares soar more than 50% on Monday after communicate which will raise over $400 million in a private placement. The goal is to create a corporate treasury anchored in Solana (SOL), strengthening the company's presence in the cryptocurrency sector.
The offering was structured at $6,50 per unit, accompanied by warrants with a three-year exercise price of $9,75. The offering is expected to close on August 28, 2025, with participation from institutional investors such as ParaFi, Pantera, FalconX, and Republic Digital.
Recently appointed Chief Investment Officer Alice Zhang highlighted Solana's combination of speed and low transaction costs, characteristics that make it attractive for global adoption. Executive Chairman Paul K. Danner stated that partnerships with major asset managers and the consulting team's expertise position Sharps to become a benchmark in Solana-based treasury.
The company will also include James Zhang, co-founder of Jambo and an influential figure within the Solana ecosystem, who will serve as a strategic advisor. He believes blockchain represents "the next evolution in global finance," highlighting the network's leading role in staking, trading volume, and on-chain revenue.
The funds raised will be used to acquire SOL, expand treasury-related financial operations, and support other corporate needs. The company also signed a letter of intent with the Solana Foundation to purchase $50 million in tokens at a discount, contingent upon the agreement.
The Solana network's growth continues to be impressive: in 2024, more than 7.500 new developers were registered. In the first half of 2025, blockchain-based applications generated approximately $1,3 billion in revenue, while daily transaction volume reached $6 billion, solidifying SOL as one of the most liquid cryptocurrencies in the world.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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