Sharps Technology, a company specializing in medical equipment, announced the raising of 400 million dollars to create a reserve fund based on the cryptocurrency Solana ($SOL ). This news triggered a 40.7% increase in the company’s stock on the exchange.
According to the official press release, the funds were raised through a private placement of shares. The completion of the deal is expected by August 28, 2025.
Among the investors who supported the project are well-known crypto companies such as ParaFi, Pantera, FalconX, and others. The funds received will be used by Sharps Technology to purchase Solana ($SOL ), as well as for other corporate needs.
Additionally, the company has entered into a preliminary agreement with the Solana Foundation, which has committed to sell Sharps Technology coins worth 50 million dollars at a 15% discount.
James Zhang, co-founder of Jambo, will also join the Sharps Technology team as an advisor on the expansion of the company's crypto portfolio.
This positive news led to a significant jump in the value of Sharps Technology shares traded on the Nasdaq exchange. This is not the first time companies choose to diversify their assets by adding cryptocurrency to them $SOL .
