Sharps Technology, Inc. Announces Closing of $16 Million Initial Public Offering
April 19 2022 - 9:50AM
Sharps Technology, Inc. (the “Company”) (NASDAQ: “STSS” and
“STSSW”), an innovative medical device company offering patented,
best-in-class, single use smart safety syringe products, today
announced the closing of its initial public offering of 3,750,000
units at a public offering price of $4.25 per unit. Each unit
consisted of a share of common stock and two warrants to purchase
one share of common stock each with an exercise price of $4.25. The
underwriter partially exercised its over-allotment option with
respect to 1,125,000 warrants. At the closing, the Company issued
an aggregate of 3,750,000 shares of common stock and 8,625,000
warrants. Gross proceeds for the offering were approximately $16
million, before deducting underwriting discounts and commissions
and estimated offering expenses.
The common stock and warrants began trading on The Nasdaq
Capital Market on April 14, 2022, under the symbols “STSS” and
“STSSW,” respectively.
Aegis Capital Corp. acted as the sole book-running
manager for the offering.
A registration statement on Form S-1 (No. 333-263715) relating
to the securities sold in this offering was declared effective by
the Securities and Exchange Commission (the “SEC”) on April 13,
2022. The offering is being made only by means of a prospectus.
Copies of the final prospectus are available on the SEC’s website,
www.sec.gov, or by contacting Aegis Capital Corp., Attention:
Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY
10019, by email at syndicate@aegiscap.com, or by telephone at (212)
813-1010.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy these securities, nor shall there
be any sale of, these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction
About Sharps Technology, Inc.
Sharps Technology, Inc. is a medical device company addressing
global issues while engineering a safer future for healthcare
providers and people everywhere through compassionate innovation.
Sharps Provensa™ is the Company’s premier line of smart safety
syringes that eliminate accidental needlestick injuries, prevent
needle reuse, and reduce wasted medicine and vaccines—while
retaining the intuitive simplicity of traditional syringes. Please
visit SharpsTechnology.com to learn more.
Forward-Looking Statements
This press release contains “forward-looking statements”
Forward-looking statements reflect our current view about future
events. When used in this press release, the words “anticipate,”
“believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the
negative of these terms and similar expressions, as they relate to
us or our management, identify forward-looking statements. Such
statements, include, but are not limited to, statements contained
in this press release relating to our business strategy, our future
operating results and liquidity and capital resources outlook.
Forward-looking statements are based on our current expectations
and assumptions regarding our business, the economy and other
future conditions. Because forward–looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict. Our actual
results may differ materially from those contemplated by the
forward-looking statements. They are neither statements of
historical fact nor guarantees of assurance of future performance.
We caution you therefore against relying on any of these
forward-looking statements. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include, without limitation, our ability
to raise capital to fund continuing operations; our ability to
protect our intellectual property rights; the impact of any
infringement actions or other litigation brought against us;
competition from other providers and products; our ability to
develop and commercialize products and services; changes in
government regulation; our ability to complete capital raising
transactions; and other factors relating to our industry, our
operations and results of operations. Actual results may differ
significantly from those anticipated, believed, estimated,
expected, intended or planned.
Factors or events that could cause our actual results to differ
may emerge from time to time, and it is not possible for us to
predict all of them. We cannot guarantee future results, levels of
activity, performance or achievements. The Company assumes no
obligation to update any forward-looking statements in order to
reflect any event or circumstance that may arise after the date of
this release.
Contact:Dave GentryPhone Number: +1
407-491-4498Email: dave@redchip.com
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