Welcome to our dedicated page for Sharps Technology news (Ticker: STSSW), a resource for investors and traders seeking the latest updates and insights on Sharps Technology stock.
Sharps Technology Inc (STSSW) delivers innovative safety syringe solutions that redefine healthcare standards through patented ultra-low waste technology. This page provides essential updates on the company's medical device advancements, strategic partnerships, and operational developments.
Access consolidated information on product launches, manufacturing expansions, and financial performance. Discover how STSSW's smart safety syringes address critical needs in infection prevention and sustainable drug delivery across global markets.
Key updates include earnings announcements, regulatory milestones, and collaborations enhancing pharmaceutical packaging solutions. Our curated news selection helps stakeholders track the company's progress in reducing needlestick injuries and medical waste management.
Bookmark this page for ongoing insights into Sharps Technology's role in advancing safe injection practices and expanding its manufacturing footprint in Europe and North America.
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) 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 (NASDAQ: STSS) has secured approval from Nasdaq to maintain its listing, subject to specific conditions. The company received a Determination Letter on September 9, 2024, following an August 13 hearing where it presented its compliance plan to address a bid price deficiency. Sharps Technology had previously obtained shareholder approval for a reverse split at a ratio of up to 1:8. However, due to a proposed new Exchange rule, the company now seeks approval for a higher ratio reverse split to improve long-term compliance with the bid price rule.
The Nasdaq Hearings Panel has granted Sharps Technology a brief exception period to complete the reverse split and cure its bid price deficiency. The company expects to regain compliance within this period.
Sharps Technology (NASDAQ: STSS and STSSW) has entered into a transformative five-year sales agreement with a prominent U.S.-based medical products company to supply 10mL SoloGard syringes from its EU facility. This deal is valued at over $50 million and fully utilizes the current production capacity of the Hungary plant.
The agreement follows successful evaluations amid FDA recalls and tariffs on Chinese syringes. It marks a significant milestone, exceeding commitments made in a June 2022 shareholder letter and laying a foundation for future expansion. Initial shipments are slated for November 2024, with a phased ramp-up in 2025. The deal ensures Sharps' products meet growing industry demand driven by diverse therapeutic needs and regulatory challenges facing Chinese suppliers.
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.
