Summary
- It was reported that the share price of Sharps Technology closed up 40.72% following the announcement of its Solana (SOL) reserve plan.
- The company stated that, according to a letter of intent (LOI) signed with the Solana Foundation, it will raise $400 million to acquire about $50 million worth of Solana at a 15% discount to the market average price.
- The recruitment of major figures from the Solana ecosystem for this project was also announced.
The stock price of the American medical device company Sharps Technology surged. Investor sentiment soared after the company disclosed its plan to accumulate Solana (SOL).
According to Nasdaq on the 25th (local time), Sharps Technology closed at $10.35, up 40.72% from the previous day. During the session, the stock price briefly spiked to $13.02 (+77%) but gave back some gains before the market closed.
On this day, Sharps Technology announced that it signed a letter of intent (LOI) with the Solana Foundation, securing $400 million to pursue its Solana treasury (reserve) strategy. The funding will proceed via a private investment in public equity (PIPE). With this capital, Sharps will accumulate about $50 million worth of Solana at a price 15% lower than the 30-day average. The deal is expected to close around the 28th.
For this project, Sharps has also brought on board key figures from the Solana ecosystem. Notably, Alice Zhang, Jambo co-founder, and James Zhang are among them.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![[Today’s Key Economic & Crypto Calendar] Atlanta Fed GDPNow, More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
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