Sharps Technology Secures $400 Million PIPE Financing to Build Solana-Powered Digital Asset Treasury

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Sharps Technology Secures $400 Million PIPE Financing to Build Solana-Powered Digital Asset Treasury — Image source: Unblock Media

Sharps Technology announces a major blockchain pivot with $400M PIPE funding.
Stock surges over 80% following Solana-focused treasury plans.

On August 25, 2025, Nasdaq-listed Sharps Technology secured $400 million through private investment in public equity (PIPE) financing to establish a digital asset treasury powered by Solana (SOL), according to a company press release. This marks a dramatic pivot from the firm’s traditional focus on drug delivery solutions.

The financing was structured at $6.50 per unit, with each unit comprising common stock and warrants exercisable at $9.75 over three years. The deal is expected to close by August 28, 2025. In response, Sharps Technology’s stock (NASDAQ: STSS) surged over 80% in premarket trading.

The company shared that it signed a non-binding letter of intent with the Solana Foundation to support the blockchain initiative. As part of the agreement, Sharps plans to acquire $50 million worth of Solana tokens at a 15% discount to their 30-day time-weighted average price, pending certain conditions. Additional financing proceeds will be used for purchasing SOL on the open market and managing treasury operations.

Leading this strategic shift, Sharps Technology named Alice Zhang as its Chief Investment Officer. Zhang will spearhead the blockchain initiative with advisory input from leading crypto asset managers, including ParaFi, Pantera, and Monarq Asset Management.

This development follows the company’s release of its Q2 2025 financial report on August 14, 2025, where Sharps Technology recorded its first net revenue of $222,722 and achieved a net income of $5.49 million. The net income was primarily driven by a fair market value gain on warrants, which offset an operating loss of approximately $5 million.

As of August 25, 2025, 15:08 UTC, Solana (SOL) is trading at $198.154, down 4.4% in the past 24 hours. However, the token’s 24-hour trading volume has increased by over 102%, reflecting heightened market activity.