Sharps Technology doubles after $ 400 million Solana Treasury Plan – Bitrss – Crypto World News

Medical Device Company Sharps Technology almost doubled in value on Monday, with its shares that rises 96% to an Intraday high of $ 14.53, after a $ 400 million plan to build a Solana -based digital asset treasury.

The rally followed news about a private placement deal and a partnership with the Solana Foundation to acquire Sol ($ 187.65), the native token of the blockchain. Sharps closed the day at $ 12.01, still well above $ 7.40 from Friday.

Solana Treasury announced

Sharps confirmed on Monday that it signed a declaration of intent with the Solana Foundation to buy $ 50 million Sol tokens through a private investment in Public Equity (Pipe) transaction. Accredited investors will buy company shares and established warrants for $ 6.50 per unit, with warrants exercised for $ 9.75 past three years. This structure links the equity of Sharps directly to the price performance of Solana.

The intraday performance of Sharps Technology on Nasdaq. Source: Yahoo Finance

The company appointed Alice Zhang, co-founder of Web3 Startup Jambo, as Chief Investment Officer to lead the Treasury Pivot. Another prominent Solana figure, James Zhang, will serve as a strategic adviser.

“Global acceptance of the Solana ecosystem accelerates,” said Alice Zhang in the company’s press release. “We believe that it is now the right time to set up a digital assets-treasury strategy with Sol, which will focus on long-term success.”

The offer, which is expected to be closed on or around 28 August, enables investors to finance allocations with the help of locked or unlocked SOL and received in advance and received genous warrants in advance.

Several health care and biotech companies listed by the US have already adopted cryptocurrencies such as treasury assets. Hoth Therapeutics assigned $ 1 million to Bitcoin in November 2024, while Atai Life Sciences followed in March with a purchase of $ 5 million. 180 Life Sciences renamed Ethzilla in July and announced an $ 425 million Ether Treasury after a stock plun of 99%.

Wall Street warns risks

Enthusiasm of investors rose after the announcement of Sharps. On Stocktwits, a social media platform that collected the sentiment of the retail market, the prospects on STSS shifted from “Bullish” to “extreme bullish” within 24 hours, while message volume hit record heights.

Not all analysts agree. In a recent video from investor education, Charles Schwab warned that companies are moving large reserves to volatile digital assets outside their core activities “have raised a red flag or two.”

Sharps, however, states that the crypto-pivot will strengthen its long-term facility. With seasoned managers and growing institutional support, the company gambles that a Solana Treasury will yield more substantial returns than traditional reserves.

Native token of Solana traded on Tuesday at $ 187-189, with 10-11% in 24 hours after recently $ 212 at the weekend. Despite the dip, Sol remains one of the most institutionally supported assets, with Visa testing the blockchain to accelerate global credit card settlements. The all time of $ 293 token was reached in January.

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