Key Takeaways:
- Sharps Technology announced a $400M Solana-based treasury strategy, causing its stock to nearly double in value.
- The firm plans to acquire $50M in SOL through a PIPE deal, involving discounted tokens and stapled warrants tied to Solana’s performance.
- Alice Zhang joins as CIO to lead the initiative, marking a growing trend of healthcare firms integrating crypto assets into their reserves.
Sharps Technology shares nearly doubled Monday after the medical device company unveiled a $400 million plan to establish a Solana (SOL)-based crypto treasury, signaling a growing trend of healthcare firms diversifying with digital assets.
The stock surged from $7.40 to an intraday high of $14.53 before closing at $12.01.
🚨BREAKING: Sharps Technology (Nasdaq: STSS) announced a $400M+ private placement, expected to close Aug 28, to establish the largest Solana treasury. The Co. signed an LOI with @Solana Foundation for a $50M $SOL purchase at a 15% discount. pic.twitter.com/5ibQ3I3o3j
— SolanaFloor (@SolanaFloor) August 25, 2025
Sharps signed a letter of intent with the Solana Foundation to purchase $50 million worth of SOL through a private investment in public equity (PIPE) deal, offering a 15% discount to its 30-day average.
Accredited investors can participate using locked or unlocked SOL and will receive stapled warrants, linking equity directly to Solana’s performance.
To spearhead the initiative, Alice Zhang, co-founder of Jambo and a prominent figure in the Solana ecosystem, was appointed chief investment officer, while James Zhang will serve as strategic adviser.
The move places Sharps among a wave of health firms experimenting with crypto-backed treasuries.
Peers include Hoth Therapeutics and Atai Life Sciences, which allocated Bitcoin in 2024, and ETHZilla, which recently announced a $425 million Ether treasury.
Analysts, however, caution that large allocations to volatile assets remain risky.
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