Sharps Technology (NASDAQ: STSS), a medical-device company, has filed forms with the U.S. Securities and Commission to enter into subscription agreements with certain institutional investors. The agreement calls for the company to issue and sell to the investors 2,239,000 shares of common stock, par value $0.0001 per share of the company at a price of $0.38 per share. The agreements are anticipated to results in gross proceeds of $850,820 for STSS. According to the announcement, Aegis Capital Corp. is acting as the exclusive placement agent for the offering, which closed on June 13, 2024. “Additionally, pursuant to a warrant inducement agreement entered into on June 13, 2024, between the company and certain investors, the investors exercised 1,000,000 warrants and the company received $330,000 in gross proceeds, before deducing placement agent fees and commission, and issued an aggregate of 1,000,000 new warrants that are exercisable at $0.45 per share,” stated the company in the SEC filing. “The new warrants will expire on the five-year anniversary of their initial exercise date, which is six months from issuance.”
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About Sharps Technology Inc.
Sharps Technology, a medical device company, engages in the design, research and development, manufacturing and commercialization of safety syringe products in the United States. The company provides safety syringe products comprising Securgard, Sologard and Sharps Provensa that are ultra-low waste syringes for passive, safety and reuse prevention features. Sharps Technology also develops prefillable syringe systems. The company was incorporated in 2017 and is based in Melville, New York. For more information about the company, visit www.Sharpstechnology.com.
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