Sharps Technology Inc - STSSW STOCK NEWS

Sharps Technology's CEO, Robert Hayes, has issued a letter urging shareholders to vote on three critical proposals by July 12, 2024. The proposals include increasing the authorized shares of common stock, effectuating a reverse stock split of up to 1-for-8 to maintain Nasdaq listing, and issuing securities at a discount of no more than 20% below the market price. The company is aggressively pursuing strategic partnerships and aims to expand manufacturing capacity in Europe and the U.S. Shareholders can vote online, by phone, or during the Special Meeting on July 15, 2024.

Sharps Technology has received purchase orders for 1 million SecureGard syringes from a Swiss-based provider of injectable therapies. The first 100,000 units will ship in late July, with the remainder delivered throughout Q3 and Q4 2024. This deal marks a significant step toward a long-term partnership, leveraging Sharps' innovative technologies to support the customer's growing product range. Sharps specializes in ultra-low waste syringe solutions designed for various therapeutic applications, including vaccines and gene therapies. The company is expanding its manufacturing capacity with a new facility in South Carolina.

Sharps Technology, a medical device and pharmaceutical packaging company, has issued a call to action for its shareholders ahead of a special meeting scheduled for July 15, 2024. Shareholders of record as of May 17, 2024, are eligible to vote on three key proposals. These proposals include increasing the authorized number of shares, potentially effectuating a reverse stock split, and issuing securities in non-public offerings at a discount not exceeding 20% of the market price. The final vote deadline is July 12, 2024, at 11:59 p.m. ET. The Board of Directors emphasizes that these proposals are important for the company’s future operations and maintaining its Nasdaq listing. Voting can be done online, by phone, or during the virtual special meeting.

Sharps Technology (NASDAQ: STSS) has shipped its first orders of Securegard 1mL and 3mL disposable smart safety syringes to Colombia. This marks the company's entry into the Latin American healthcare market. The Securegard syringes feature ultra-low waste technology and World Health Organization accredited re-use prevention measures, aiming to enhance safety for healthcare workers and patients. This shipment, part of a strategic partnership with a Colombian distributor, is expected to drive long-term adoption and improve medical safety across the region.

Sharps Technology (NASDAQ: STSS, STSSW) is hosting an exclusive live investor webinar on June 18, 2024, at 4:15 p.m. ET, featuring CEO Robert Hayes. The event will discuss Sharps' recent $200 million syringe Sales Agreement with Nephron and an Asset Purchase Agreement. The manufacturing plan, starting upon closing the acquisition in 45 days, includes upgrading facilities to produce COC prefillable syringes. The first production line should be ready by early Q2 2025, with all three lines operational by Q4 2025. Sharps is also eyeing sales with Fortune 500 medical distributors and other pharma leaders, aiming for market shipping by early Q2 2025.

Sharps Technology (NASDAQ: STSS, STSSW) has secured a $30 million purchase order from Nephron Pharmaceuticals for their first 12 months of prefillable copolymer syringes. The syringes, available in 10mL and 50mL sizes, will be manufactured at a newly acquired facility in West Columbia, South Carolina. This purchase order is part of a larger five-year, $200 million Syringe Sales Agreement. The new facility, expected to be operational by Q2 2025, aims to exceed $35 million in revenue in its first year, with projections of over $50 million in 2026, and potentially $100 million by 2028. The advanced syringe technology offers significant benefits, including reduced breakage and contamination, and improved cold-chain storage.

Sharps Technology has secured exclusive rights to purchase InjectEZ assets with a $1 million escrow deposit. The acquisition includes a five-year, $200 million syringe sales agreement with Nephron Pharmaceuticals. The transaction is expected to close within 60 days, with product shipments slated to begin in Q2 2025. The South Carolina facility will produce pharmaceutical-grade prefillable syringes, with projected revenue exceeding $35 million in the first 12 months. The manufacturing plan includes three phases, with the final phase expected to be completed by October 2027. Sharps is also collaborating with Fortune 500 medical distributors and pharmaceutical companies to expand its market reach.

Sharps Technology (NASDAQ: STSS) has signed an enhanced Asset Purchase Agreement with Nephron Pharmaceuticals to acquire InjectEZ manufacturing assets in South Carolina. The $35 million acquisition includes a five-year, $200 million syringe Sales Agreement, positioning Sharps as the first dedicated polymer prefillable syringe manufacturer in North America. Expected revenues are $35 million in the first 12 months, with potential growth to $100 million by 2028. The facility will start delivering products by Q2 2025. The deal also involves a $9 million and $4.75 million investment for production line expansions, potentially adding $65 million in annual revenue by 2027. This strategic move is fueled by FDA recalls, tariffs, and a shift from glass to polymer syringes.

Sharps Technology has signed a $200 million, 5-year syringe sales agreement with Nephron Pharmaceuticals and an asset purchase agreement (APA) to acquire InjectEZ's syringe manufacturing assets for $35 million. This acquisition, expected to close within 60 days, will establish a dedicated prefillable syringe manufacturing plant in West Columbia, SC. The facility aims to start production by Q2 2025, projecting $37 million in revenue in the first 12 months. This deal expands Sharps' manufacturing capacity in the U.S. and Europe and positions the company for growth in the copolymer prefillable syringe market.