Sharps Technology Inc. Announces a $400 million plan to become the largest corporate treasury of #sol
A new competitor has entered the race for corporate cryptocurrency treasuries. Sharps Technology Inc. (STSS), a small medical device company listed on Nasdaq, has announced its ambitious plan to raise over $400 million with the aim of acquiring tokens of #solana . The company aspires to become the "largest digital asset treasury of Solana".
The company seeks to raise capital through a private investment in a public equity (PIPE) operation, with a closing expected on August 28.
Backing from Giants: The offering has the support of heavyweight investors, including crypto venture capital firms like ParaFi Capital and Pantera Capital.
A New Treasury Leader: With its $400 million goal, Sharps Technology will position itself as the leader of SOL treasuries, surpassing companies like Upexi ($370 million) and DeFi Development Corp ($199 million).
Increasing Trend: This move by Sharps Technology underscores a growing trend among small-cap companies on Nasdaq that are adopting a digital asset treasury (DAT) strategy.
