Sharps Technology, Inc. said Monday it has priced a private placement worth more than $400 million to back a new digital asset treasury strategy centred on Solana (SOL), the native token of the Solana blockchain.
The offering, structured as a private investment in public equity transaction, will allow investors to purchase common stock and stapled warrants at $6.50 per unit. The warrants carry a three-year term and an exercise price of $9.75, equal to 150% of the unit price. Closing is expected on or around Aug. 28, pending customary conditions.
Sharps said proceeds will be used to acquire SOL in the open market, establish treasury operations, and for general corporate purposes. Some investors plan to fund their commitments using locked or unlocked SOL, in which case pre-funded warrants will be issued.
Solana Foundation Agreement
The company also disclosed a non-binding letter of intent with the Switzerland-based Solana Foundation. Under the agreement, the foundation would sell Sharps $50 million worth of SOL at a 15% discount to the 30-day time-weighted average price, subject to conditions tied to a future public offering.
Alice Zhang, recently appointed as Sharps Technology’s chief investment officer and a member of its board, said the move aligns the company with the broader adoption of blockchain infrastructure. Zhang emphasised that Solana’s ability to handle high volumes of transactions at low cost positions it as a settlement layer for assets ranging from equities to private funds.
Paul K. Danner, executive chairman of Sharps, said the company aims to build a defined accumulation strategy and work with experienced asset managers as part of its treasury operations.
Advisors and Market Context
Sharps also named James Zhang, co-founder of the technology firm Jambo and a frequent speaker at industry events, as a strategic adviser. He will collaborate with investment managers, including Monarq Asset Management, ParaFi, and Pantera, to support treasury development.
Solana has emerged as one of the busiest public blockchains, with recent reports citing billions of transactions per quarter, $6 billion in daily trading volume, and more than 3.8 million average active wallets in 2025. The network also offers staking yields of about 7%, one of the highest among major blockchains.
Sharps’ announcement follows a wave of institutional interest in blockchain-based financial infrastructure, with Solana often highlighted for its developer activity and application revenues.
