Sharps Technology Forms Bold $400M Solana Digital Asset Treasury Strategy

August 25, 2025

DENVER, Colo., Aug 25, 2025 (247marketnews.com)- Sharps Technology (NASDAQ:STSS) is making waves this week with the announcement of a $400 million private placement to fund what it calls the world’s largest Solana-based digital asset treasury strategy. The company plans to primarily hold SOL, the native token of the Solana blockchain, citing its performance, scalability, and growing institutional adoption as key drivers of the move.

Backing the raise is an impressive list of investors from both traditional finance and the crypto space, including ParaFi, Pantera, FalconX, CoinFund, and Arrington Capital. The offering is structured as a PIPE transaction, pricing units at $6.50 each, including common shares (or pre-funded warrants) and stapled warrants exercisable at $9.75. The deal is expected to close around August 28, 2025, pending standard conditions.

Sharps intends to use the proceeds to acquire SOL on the open market and build its treasury infrastructure. In a noteworthy development, the company has signed a non-binding LOI with the Solana Foundation, under which the Foundation has agreed to sell $50 million worth of SOL at a 15% discount, contingent on public offering proceeds and other conditions.

CIO Alice Zhang emphasized that Solana “defines the standard for digital infrastructure,” while Executive Chairman Paul K. Danner said Sharps is “well positioned to become a leading SOL treasury.” Strategic advisor James Zhang highlighted Solana’s dominance across staking yields, chain revenue, and transaction volume, framing the move as a long-term value generator for shareholders.

With ~7% staking yields, 3.8 million average daily active wallets, and $6 billion in daily trading volume, Solana continues to lead in both speed and utility. Sharps’ aggressive positioning into Solana’s ecosystem marks a new chapter not only for the company but for institutional adoption of digital assets more broadly.

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