Welcome to our dedicated page for Sharps Tech news (Ticker: STSS), a resource for investors and traders seeking the latest updates and insights on Sharps Tech stock.
Sharps Technology Inc. (STSS) delivers innovative safety syringe solutions for global healthcare markets. This page provides official updates on corporate developments, product advancements, and strategic initiatives shaping the medical device sector.
Access timely announcements including earnings reports, manufacturing expansions, and partnership agreements. Investors and healthcare professionals will find critical updates on STSS's ultra-low waste syringes, smart-safety features, and regulatory compliance milestones.
Our curated news collection supports informed analysis of STSS's market position, emphasizing its patented technologies and quality assurance protocols. Bookmark this page for reliable updates on contract wins, production scaling, and industry trends impacting drug delivery systems.
Sharps Technology (NASDAQ: STSS) has announced a 1-for-300 reverse stock split of its common stock, effective April 27, 2025, at 11:59 PM Eastern Time. The company's stock will begin trading on a post-reverse split basis on April 28, 2025, maintaining its current symbol 'STSS' on the Nasdaq Capital Market.
The primary purpose of this reverse split is to ensure compliance with Nasdaq's minimum bid price requirement for continued listing. As part of this action, the company's authorized common shares will be reduced from 500,000,000 to 1,666,667. The Board of Directors implemented this decision without shareholder approval, as permitted under Nevada Revised Statutes Section 78.207, since it provides for a proportionate reduction in both authorized and outstanding shares.
Sharps Technology (Nasdaq: STSS) has issued a important reminder to shareholders to vote in favor of a proposed reverse stock split at the upcoming shareholder meeting on March 28, 2025. The vote is essential to maintain STSS's Nasdaq listing and prevent delisting to OTC Markets.
The special meeting, scheduled for 10:00 a.m. Eastern Time, requires shareholder approval to meet Nasdaq's minimum bid price requirement of $1.00 per share. Shareholders of record as of January 29, 2025, are eligible to vote. The company's Board of Directors unanimously supports the proposal.
CEO Robert M. Hayes emphasizes that maintaining the Nasdaq listing is vital for ensuring strong liquidity and broad investor access. If approved, the reverse stock split will decrease the number of outstanding shares while increasing the price per share, with shareholders maintaining their same percentage interest in the company.
Shareholders requiring assistance can contact Advantage Proxy at (877) 870-8565 or ksmith@advantageproxy.com. The proxy statement details are available on the SEC website and at virtualshareholdermeeting.com/STSS2025SM.
Sharps Technology (STSS) has provided a corporate update following its recent $20 million capital raise in January 2025. The company has strengthened its balance sheet, eliminated debt, and is advancing its operations in Hungary through key agreements.
The company has a five-year agreement with a U.S. medical products supplier for customized 10mL SoloGard syringes, targeting production of 500 million units worth approximately $50 million. Revenue generation is expected to begin in H2 2025.
STSS is also progressing with SecureGard safety syringe deliveries to a European distributor serving Poland, Slovakia, and Czech Republic, with qualification processes underway at Penta Hospitals International, which operates 34 hospitals and 31 outpatient clinics in Central and Eastern Europe.
The company is expanding its Hungarian manufacturing operations with advanced machinery and workforce enhancement, while continuing negotiations for manufacturing capabilities in South Carolina.
Sharps Technology (NASDAQ: STSS) has closed its upsized underwritten public offering, raising $20.0 million in gross proceeds. The offering comprised 14,285,714 Common Units priced at $1.40 per unit (or $1.3999 for Pre-Funded Units). Each unit consists of one share of Common Stock (or Pre-Funded Warrant), one Series A Warrant, and one Series B Warrant.
Both Series A and B Warrants have an exercise price of $1.75. Series A Warrants expire in 60 months while Series B Warrants expire in 30 months after stockholder approval. The underwriter, Aegis Capital Corp., exercised its over-allotment option for 2,142,857 Series A Warrants and 2,142,857 Series B Warrants.
Sharps Technology (NASDAQ: STSS) has announced the pricing of an upsized $20.0 million underwritten public offering. The offering consists of 14,285,714 Common Units at $1.40 per unit (or Pre-Funded Units at $1.3999). Each unit includes one share of Common Stock (or Pre-Funded Warrant), one Series A Warrant, and one Series B Warrant.
Both Series A and B Warrants have an exercise price of $1.75. Series A Warrants expire in 60 months while Series B Warrants expire in 30 months after stockholder approval. The company granted Aegis Capital Corp. a 45-day over-allotment option for up to 15% additional shares and warrants.
The offering is expected to close around January 29, 2025. The proceeds will be used for general corporate purposes and working capital. Aegis Capital Corp. is serving as the sole book-running manager for this offering.
Sharps Technology (NASDAQ: STSS) has secured significant agreements and expansion plans for its Hungary manufacturing facility. The company signed a five-year, $50+ million agreement with a U.S.-based medical supplier for 500 million 10mL SoloGard syringes, with deliveries starting Q1 2025. Additionally, new sales agreements were secured with a European medical supply company for SecureGard inventory, with initial revenue beginning December 2024.
The Hungary facility expansion will increase SecureGard capacity to over 100 million units and SoloGard capacity to over 125 million units. Revenue targets are projected at $400k in December 2024, $5 million in 2025, $15 million in 2026, and $20 million in 2027. The company has also regained NASDAQ compliance and continues working on finalizing the InjectEZ facility acquisition in Columbia, SC.
Sharps Technology (NASDAQ: STSS) has signed multiple sales agreements for its SecureGard safety syringes with a major European medical supply company serving Poland, Slovakia, and the Czech Republic. The company has begun deliveries of 1mL and 3mL SecureGard syringes, with the customer committing to purchase all available plant inventory by Q1 2025 and new production orders starting in Q2 2025.
The agreements will utilize all current SecureGard production capacity of 35 million units at the Hungary manufacturing facility. The customer has also shown interest in Sharps' U.S. inventory for Northern Africa markets. In response to growing demand, Sharps is planning to expand its manufacturing capacity to over 100 million units for SecureGard and 125 million units for SoloGard annually.
Sharps Technology (NASDAQ: STSS) has successfully regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share for continued listing. The company, which specializes in medical devices and pharmaceutical packaging with patented syringe products, received official notification from Nasdaq on November 13, 2024, confirming their compliance as of November 5, 2024. The achievement was made possible through a reverse stock split supported by shareholders.
Sharps Technology (NASDAQ: STSS) has announced a one-for-22 reverse stock split of its common stock, effective October 15, 2024, at 11:59 PM Eastern Time. The company's stock is expected to begin trading on a post-split basis on October 16, 2024, under the same symbol 'STSS' on the Nasdaq Capital Market. This move is primarily aimed at bringing Sharps into compliance with Nasdaq's minimum bid price requirement.
The reverse split will reduce the number of outstanding common shares from approximately 39.5 million to 1.8 million. It will affect all issued and outstanding shares, as well as outstanding options, restricted stock awards, warrants, and other securities. The authorized number of shares and par value will remain unchanged. No fractional shares will be issued, with stockholders entitled to receive the number of shares rounded up to the next whole number.
Sharps Technology (NASDAQ: STSS) is urging shareholders to vote in favor of a reverse stock split proposal before the special meeting on October 7, 2024. The company needs to regain compliance with NASDAQ's minimum bid price requirement to maintain its listing. The Board of Directors has recommended a reverse split range of 1-for-8 up to 1-for-22.
CEO Robert M. Hayes emphasized the importance of this vote to preserve investments and enable the company to execute its business plan. Without approval, Sharps Technology expects to be delisted from NASDAQ in the near future, which could adversely affect stock value and trading volume.
Shareholders of record as of August 13, 2024, are eligible to vote. The company encourages all shareholders to vote 'FOR' the proposal to help maintain NASDAQ compliance, ensure easier trading, and provide better access to capital for growth strategies.
