Sharps Technology, Inc. Announces $3.5 Million Bridge Financing
Sharps Technology, Inc. (NASDAQ: STSS) has announced a $3.5 million secured bridge loan financing with institutional investors. The deal involves the sale of approximately $3.5 million in securities, with purchasers receiving $1,250 in aggregate principal amount of secured notes and 1,628.57 shares of common stock or pre-funded warrants for every $1,000 invested. This translates to $4,375,000 in principal amount of notes and 5,700,006 shares of common stock.
The transaction is expected to close on September 23, 2024. Aegis Capital Corp. is acting as the Exclusive Placement Agent. The company plans to use the net proceeds for general corporate purposes and working capital. The securities are being sold in a private placement to accredited investors and have not been registered under the Securities Act of 1933.
Sharps Technology, Inc. (NASDAQ: STSS) ha annunciato un finanziamento bridge secured da 3,5 milioni di dollari con investitori istituzionali. L'accordo prevede la vendita di circa 3,5 milioni di dollari in titoli, con i compratori che ricevono $1.250 in capitale di note garantite e 1.628,57 azioni di common stock o warrant prefinanziati per ogni $1.000 investiti. Questo si traduce in $4.375.000 come importo principale di note e 5.700.006 azioni di common stock.
La transazione è prevista per chiudersi il 23 settembre 2024. Aegis Capital Corp. funge da Agente di Collocamento Esclusivo. L'azienda prevede di utilizzare i proventi netti per scopi aziendali generali e capitale circolante. I titoli vengono venduti in un collocamento privato a investitori accreditati e non sono stati registrati ai sensi del Securities Act del 1933.
Sharps Technology, Inc. (NASDAQ: STSS) ha anunciado un financiamiento de préstamo puente asegurado de $3.5 millones con inversores institucionales. El acuerdo implica la venta de aproximadamente $3.5 millones en valores, con los compradores recibiendo $1,250 en monto principal total de notas aseguradas y 1,628.57 acciones de acciones ordinarias o warrants prefinanciados por cada $1,000 invertidos. Esto se traduce en $4,375,000 en monto principal de notas y 5,700,006 acciones de acciones ordinarias.
Se espera que la transacción se cierre el 23 de septiembre de 2024. Aegis Capital Corp. actúa como el Agente de Colocación Exclusivo. La empresa planea utilizar los ingresos netos para fines corporativos generales y capital de trabajo. Los valores se venden en una colocación privada a inversores acreditados y no han sido registrados bajo la Ley de Valores de 1933.
Sharps Technology, Inc. (NASDAQ: STSS)는 기관 투자자들과 함께 350만 달러 규모의 담보성 다리 대출 금융을 발표했습니다. 이 거래는 약 350만 달러의 유가증권 판매를 포함하며, 구매자는 투자한 1,000달러당 1,250달러의 담보 노트와 1,628.57주의 보통주 또는 미리 자금 조달된 워런트를 받게 됩니다. 이는 포함된 노트의 원금 4,375,000달러와 보통주 5,700,006주에 해당합니다.
이번 거래는 2024년 9월 23일에 종료될 것으로 예상됩니다. Aegis Capital Corp.가 독점 배급 대리인으로 활동하고 있습니다. 회사는 순 자금을 일반 기업 목적 및 운영 자본에 사용할 계획입니다. 유가증권은 자격이 있는 투자자들에게 비공식적으로 판매되며 1933년 증권법에 따라 등록되지 않았습니다.
Sharps Technology, Inc. (NASDAQ: STSS) a annoncé un financement par prêt relais sécurisé de 3,5 millions de dollars avec des investisseurs institutionnels. L'accord implique la vente d'environ 3,5 millions de dollars en titres, les acheteurs recevant 1 250 $ en montant principal total de notes sécurisées et 1 628,57 actions ordinaires ou warrants préfinancés pour chaque 1 000 $ investis. Cela représente un montant principal de 4 375 000 $ de notes et 5 700 006 actions ordinaires.
La transaction devrait être finalisée le 23 septembre 2024. Aegis Capital Corp. agit en tant qu'Agent de Placement Exclusif. La société prévoit d'utiliser les produits nets pour des fins générales d'entreprise et du fonds de roulement. Les titres sont vendus dans le cadre d'un placement privé à des investisseurs accrédités et n'ont pas été enregistrés en vertu de la Securities Act de 1933.
Sharps Technology, Inc. (NASDAQ: STSS) hat eine sichere Brückenfinanzierung in Höhe von 3,5 Millionen US-Dollar mit institutionellen Investoren angekündigt. Der Deal beinhaltet den Verkauf von etwa 3,5 Millionen US-Dollar an Wertpapieren, wobei die Käufer insgesamt 1.250 US-Dollar an gesicherten Anleihen sowie 1.628,57 Aktien von Stammaktien oder vorfinanzierten Warrants für jede investierten 1.000 US-Dollar erhalten. Dies entspricht 4.375.000 US-Dollar an Anleihen und 5.700.006 Stammaktien.
Die Transaktion soll am 23. September 2024 abgeschlossen werden. Aegis Capital Corp. fungiert als exklusiver Platzierungsagent. Das Unternehmen plant, die Nettomittel für allgemeine Unternehmenszwecke und Betriebskapital zu verwenden. Die Wertpapiere werden in einer privaten Platzierung an akkreditierte Investoren verkauft und wurden nicht gemäß dem Securities Act von 1933 registriert.
- Secured $3.5 million in bridge financing
- Financing provides additional working capital
- Transaction expected to close on September 23, 2024
- Potential dilution for existing shareholders due to issuance of new shares and warrants
- Increased debt with the issuance of $4,375,000 in principal amount of secured notes
NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc. (NASDAQ: STSS) (the “Company”), an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, today announced that it has entered into definitive agreements with institutional investors for a secured bridge loan financing (the “Bridge Financing”) of approximately
The Bridge Financing consisted of the sale of approximately
Aggregate gross proceeds to the Company are expected to be approximately
Aegis Capital Corp. is acting as Exclusive Placement Agent for the private placement. Sichenzia Ross Ference Carmel LLP is acting as U.S. counsel to the Company. Kaufman & Canoles, P.C. is acting as counsel to Aegis Capital Corp.
The securities described above are being sold in a private placement transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the Common Stock and the Shares issuable upon exercise of the pre-funded warrants.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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 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 and is partnering with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. For more information about Sharps Technology, please visit the website at: http://sharpstechnology.com.
Forward-Looking Statements
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance, or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
1-800-RED-CHIP (733-2447)
Or 407-644-4256
STSS@redchip.com
FAQ
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