Sharps Technology Announces Reverse Stock Split
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) ha annunciato uno frazionamento azionario inverso di tipo 1-per-300 delle sue azioni ordinarie, con effetto dal 27 aprile 2025 alle 23:59 ora Eastern. Le azioni della società inizieranno a essere negoziate sulla base del frazionamento inverso a partire dal 28 aprile 2025, mantenendo il simbolo attuale 'STSS' sul Nasdaq Capital Market.
Lo scopo principale di questo frazionamento inverso è garantire il rispetto del requisito minimo di prezzo per azione imposto dal Nasdaq per la permanenza nella quotazione. Nell'ambito di questa operazione, le azioni ordinarie autorizzate della società saranno ridotte da 500.000.000 a 1.666.667. Il Consiglio di Amministrazione ha preso questa decisione senza l'approvazione degli azionisti, come consentito dalla Sezione 78.207 delle Normative Riviste del Nevada, poiché prevede una riduzione proporzionale sia delle azioni autorizzate che di quelle in circolazione.
Sharps Technology (NASDAQ: STSS) ha anunciado una consolidación de acciones a razón de 1 por 300 de sus acciones ordinarias, que entrará en vigor el 27 de abril de 2025 a las 11:59 PM hora del Este. Las acciones de la compañía comenzarán a cotizar con base en esta consolidación a partir del 28 de abril de 2025, manteniendo su símbolo actual 'STSS' en el Nasdaq Capital Market.
El propósito principal de esta consolidación es asegurar el cumplimiento del requisito mínimo de precio por acción establecido por Nasdaq para la permanencia en la lista. Como parte de esta acción, las acciones ordinarias autorizadas de la compañía se reducirán de 500,000,000 a 1,666,667. La Junta Directiva tomó esta decisión sin la aprobación de los accionistas, según lo permitido por la Sección 78.207 de los Estatutos Revisados de Nevada, ya que implica una reducción proporcional tanto en las acciones autorizadas como en las en circulación.
Sharps Technology (NASDAQ: STSS)는 2025년 4월 27일 동부 표준시 기준 오후 11시 59분부터 보통주 1주를 300주로 병합하는 역병합을 발표했습니다. 회사의 주식은 2025년 4월 28일부터 역병합 후 기준으로 거래를 시작하며, 나스닥 캐피탈 마켓에서 현재의 심볼 'STSS'를 유지합니다.
이번 역병합의 주요 목적은 나스닥 상장 유지 조건인 최소 입찰가 요건을 충족하기 위함입니다. 이 조치의 일환으로 회사의 승인된 보통주 수는 5억 주에서 1,666,667주로 줄어듭니다. 이사회는 네바다 개정법 78.207조에 따라 주주 승인 없이 이 결정을 내렸으며, 이는 승인된 주식과 발행 주식 모두를 비례적으로 감축하는 것을 허용합니다.
Sharps Technology (NASDAQ : STSS) a annoncé une opération de regroupement d'actions au ratio de 1 pour 300 de ses actions ordinaires, effective à partir du 27 avril 2025 à 23h59 heure de l'Est. Les actions de la société commenceront à être négociées sur la base de ce regroupement à partir du 28 avril 2025, en conservant le symbole actuel 'STSS' sur le Nasdaq Capital Market.
L'objectif principal de ce regroupement est d'assurer le respect de l'exigence minimale de prix par action imposée par le Nasdaq pour le maintien de la cotation. Dans le cadre de cette opération, le nombre d'actions ordinaires autorisées sera réduit de 500 000 000 à 1 666 667. Le conseil d'administration a pris cette décision sans l'approbation des actionnaires, conformément à la Section 78.207 des Statuts révisés du Nevada, car elle prévoit une réduction proportionnelle des actions autorisées et en circulation.
Sharps Technology (NASDAQ: STSS) hat eine 1-zu-300 Reverse-Aktienzusammenlegung seiner Stammaktien angekündigt, die am 27. April 2025 um 23:59 Uhr Eastern Time wirksam wird. Die Aktien des Unternehmens werden ab dem 28. April 2025 auf Basis der Reverse-Split gehandelt und behalten ihr aktuelles Symbol 'STSS' am Nasdaq Capital Market bei.
Der Hauptzweck dieses Reverse-Splits besteht darin, die Einhaltung der Mindestgebotspreisvorgabe der Nasdaq für die Fortführung der Notierung sicherzustellen. Im Rahmen dieser Maßnahme wird die Anzahl der genehmigten Stammaktien von 500.000.000 auf 1.666.667 reduziert. Der Vorstand hat diese Entscheidung ohne Zustimmung der Aktionäre getroffen, wie es gemäß Abschnitt 78.207 der überarbeiteten Statuten von Nevada zulässig ist, da eine proportionale Reduzierung sowohl der genehmigten als auch der ausstehenden Aktien erfolgt.
- Maintains Nasdaq listing eligibility through compliance action
- Implementation of 1-for-300 reverse split indicates significant share price decline
- Risk of continued listing non-compliance despite reverse split
- Substantial reduction in total authorized shares may limit future financing flexibility
NEW YORK, April 24, 2025 (GLOBE NEWSWIRE) -- Sharps Technology, Inc. (NASDAQ: “STSS” and “STSSW”) ("Sharps"), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry, today announced that it will effect a 1-for-300 reverse stock split (the "reverse split") of its common stock, par value
The reverse split is primarily intended to bring Sharps into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq. The new CUSIP number for the Common Stock following the reverse split will be 82003F309.
The reverse split was effected by the Sharps’ Board of Directors (the "Board"), pursuant to Section 78.207 of the Nevada Revised Statutes, without shareholder approval as the reverse split provides for a proportionate reduction in the number of both the authorized and outstanding shares and does not adversely affect any other classes of stock of the Company. The Company’s amended and restated Articles of Incorporation, filed with the Nevada Secretary of State, reduce the authorized common shares from 500,000,000 to 1,666,667 and effectuate a reverse split of 1-for-300.
About Sharps Technology:
Sharps Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary. For additional information, please visit www.sharpstechnology.com.
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,” “poised” 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.
Investor Contact:
Holdsworth Partners
Adam Holdsworth
Phone: 917-497-9287
Email: IR@sharpstechnology.com
FAQ
What is the ratio of Sharps Technology's (STSS) reverse stock split announced for April 2025?
Why is Sharps Technology (STSS) implementing a reverse stock split in 2025?
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