Sharps Technology, Inc. Closes $3.5 Million Bridge Financing
Sharps Technology, Inc. (NASDAQ: STSS) has successfully closed a $3.5 million bridge financing through a private placement of securities. The transaction, which concluded on September 24, 2024, involved the sale of $4,375,000 in principal amount of secured notes and 5,700,006 shares of common stock. For every $1,000 invested, purchasers received $1,250 in notes and 1,628.57 shares of common stock.
The company plans to use the net proceeds for general corporate purposes and working capital. Aegis Capital Corp. acted as the exclusive placement agent, with legal representation provided by Sichenzia Ross Ference Carmel LLP for Sharps Technology and Kaufman & Canoles, P.C. for Aegis Capital Corp.
As part of the agreement, Sharps Technology will file registration statements with the SEC to cover the resale of the common stock. The securities were offered only to accredited investors and have not been registered under the Securities Act of 1933.
Sharps Technology, Inc. (NASDAQ: STSS) ha concluso con successo un finanziamento ponte di $3,5 milioni tramite un collocamento privato di titoli. La transazione, che si è conclusa il 24 settembre 2024, ha riguardato la vendita di $4,375,000 in note garanti e 5,700,006 azioni ordinarie. Per ogni $1,000 investiti, gli acquirenti hanno ricevuto $1,250 in note e 1,628.57 azioni ordinarie.
La società prevede di utilizzare i proventi netti per scopi aziendali generali e capitale circolante. Aegis Capital Corp. ha agito come agente di collocamento esclusivo, con assistenza legale fornita da Sichenzia Ross Ference Carmel LLP per Sharps Technology e Kaufman & Canoles, P.C. per Aegis Capital Corp.
Come parte dell'accordo, Sharps Technology presenterà dichiarazioni di registrazione alla SEC per coprire la rivendita delle azioni ordinarie. I titoli sono stati offerti solo a investitori accreditati e non sono stati registrati ai sensi del Securities Act del 1933.
Sharps Technology, Inc. (NASDAQ: STSS) ha cerrado con éxito un financiamiento puente de $3.5 millones a través de una colocación privada de valores. La transacción, que concluyó el 24 de septiembre de 2024, involucró la venta de $4,375,000 en notas garantizadas y 5,700,006 acciones ordinarias. Por cada $1,000 invertidos, los compradores recibieron $1,250 en notas y 1,628.57 acciones ordinarias.
La compañía planea utilizar los ingresos netos para fines corporativos generales y capital de trabajo. Aegis Capital Corp. actuó como el agente de colocación exclusivo, con representación legal proporcionada por Sichenzia Ross Ference Carmel LLP para Sharps Technology y Kaufman & Canoles, P.C. para Aegis Capital Corp.
Como parte del acuerdo, Sharps Technology presentará declaraciones de registro ante la SEC para cubrir la reventa de las acciones ordinarias. Los valores se ofrecieron solo a inversores acreditados y no han sido registrados bajo la Ley de Valores de 1933.
샤프스 테크놀로지, Inc. (NASDAQ: STSS)는 사모형 유가증권을 통한 350만 달러의 브릿지 파이낸싱을 성공적으로 마무리했습니다. 이 거래는 2024년 9월 24일에 종료되었으며, 437만 5천 달러의 담보가치가 있는 채권과 5,700,006주 의 일반주식의 판매를 포함했습니다. $1,000 투자할 때마다 구매자는 $1,250의 채권과 1,628.57주의 일반주식을 받았습니다.
회사는 차익금을 일반 기업 목적과 운영 자금에 사용할 계획입니다. Aegis Capital Corp.는 독점적인 배치 대리인으로 활동하였으며, 법적 대표는 샤프스 테크놀로지를 위해 Sichenzia Ross Ference Carmel LLP가, Aegis Capital Corp.를 위해 Kaufman & Canoles, P.C.가 제공했습니다.
계약의 일환으로, 샤프스 테크놀로지는 SEC에 일반주식의 재판매를 위한 등록 신고서를 제출할 예정입니다. 이 유가는 인증된 투자자에게만 제공되었으며, 1933년 증권법에 따라 등록되지 않았습니다.
Sharps Technology, Inc. (NASDAQ: STSS) a réussi à clôturer un financement de transition de 3,5 millions de dollars grâce à un placement privé de titres. La transaction, qui s'est terminée le 24 septembre 2024, a concerné la vente de 4 375 000 dollars en notes garanties et 5 700 006 actions ordinaires. Pour chaque 1 000 dollars investis, les acheteurs ont reçu 1 250 dollars en notes et 1 628,57 actions ordinaires.
L'entreprise prévoit d'utiliser le produit net pour des fins d'entreprise générales et du fonds de roulement. Aegis Capital Corp. a agi en tant qu'agent de placement exclusif, avec une représentation juridique fournie par Sichenzia Ross Ference Carmel LLP pour Sharps Technology et Kaufman & Canoles, P.C. pour Aegis Capital Corp.
Dans le cadre de l'accord, Sharps Technology déposera des déclarations d'enregistrement auprès de la SEC pour couvrir la revente des actions ordinaires. Les titres ont été offerts uniquement à des investisseurs accrédités et n'ont pas été enregistrés en vertu de la Securities Act de 1933.
Sharps Technology, Inc. (NASDAQ: STSS) hat erfolgreich eine Brückenfinanzierung von 3,5 Millionen US-Dollar durch ein Privatplatzierungsangebot von Wertpapieren abgeschlossen. Die Transaktion, die am 24. September 2024 abgeschlossen wurde, umfasste den Verkauf von 4.375.000 US-Dollar an gesicherten Anleihen und 5.700.006 Stammaktien. Für jede investierte Summe von 1.000 US-Dollar erhielten die Käufer 1.250 US-Dollar in Anleihen und 1.628,57 Stammaktien.
Das Unternehmen plant, die Nettoerlöse für allgemeine Unternehmenszwecke und Betriebskapital zu verwenden. Aegis Capital Corp. fungierte als exklusiver Platzierungsmittler, wobei die rechtliche Vertretung durch Sichenzia Ross Ference Carmel LLP für Sharps Technology und Kaufman & Canoles, P.C. für Aegis Capital Corp. bereitgestellt wurde.
Im Rahmen der Vereinbarung wird Sharps Technology bei der SEC Registrierungsanträge einreichen, um den Wiederverkauf der Stammaktien abzudecken. Die Wertpapiere wurden nur akkreditierten Investoren angeboten und sind nicht unter dem Securities Act von 1933 registriert worden.
- Secured $3.5 million in bridge financing
- Closed private placement of securities
- Strengthened working capital position
- Potential dilution of existing shareholders due to issuance of 5,700,006 new common shares
- Increased debt with $4,375,000 in principal amount of secured notes
Insights
Sharps Technology's
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However, this cash infusion should help Sharps Technology maintain operations and potentially advance its innovative syringe products. Investors should monitor how effectively management deploys this capital to drive growth and improve the company's financial position. The involvement of Aegis Capital Corp. as the exclusive placement agent lends some credibility to the transaction.
The private placement structure of this financing is noteworthy from a legal perspective. By offering securities only to accredited investors, Sharps Technology is utilizing an exemption from SEC registration requirements under Regulation D. This approach allows for a faster and less costly capital raise compared to a public offering.
However, the company has committed to filing registration statements with the SEC for the resale of the common stock, which will increase transparency for these securities in the secondary market. This commitment balances the company's need for efficient fundraising with investors' interests in liquidity.
The involvement of multiple law firms (Sichenzia Ross Ference Carmel LLP for the company and Kaufman & Canoles, P.C. for the placement agent) suggests a complex transaction with careful attention to legal compliance. Investors should be aware that these unregistered securities come with resale restrictions, potentially limiting liquidity in the short term.
NEW YORK, Sept. 24, 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 the closing of its previously announced secured bridge loan financing (the “Bridge Financing”) of approximately
The Bridge Financing consisted of the sale of approximately
Aegis Capital Corp. acted as Exclusive Placement Agent for the private placement. Sichenzia Ross Ference Carmel LLP acted U.S. counsel to the Company. Kaufman & Canoles, P.C. acted as counsel to Aegis Capital Corp.
The securities described above were 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.
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
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