TLDR:
- Sharps Technology raised $400M through PIPE financing to establish the largest Solana (SOL) digital asset treasury.
- Investors include ParaFi, Pantera, Monarq, CoinFund, Arrington Capital, FalconX, and other leading crypto institutions.
- Company signed an MoU with Solana Foundation to acquire $50M worth of SOL at a 15% discount.
The PIPE deal priced at $6.50 per unit with warrants at $9.75 and closing expected by August 28, 2025.
Sharps Technology is moving aggressively into the crypto market. The company has lined up a $400 million private placement deal that will put Solana at the center of its treasury strategy.
Backing comes from some of the biggest names in digital assets, including ParaFi, Pantera, and Monarq. It also signed an agreement with the Solana Foundation to acquire tokens at a discount. The move positions the firm as one of the largest institutional holders of SOL.
$400M PIPE Financing to Strengthen Solana Strategy
According to Wu Blockchain, Sharps Technology (Nasdaq: STSS, STSSW) finalized a $400 million PIPE financing round to execute its new digital asset strategy.
Investors in the round included ParaFi, Pantera, Monarq, FalconX, Phoenix Capital, and CoinFund. The deal also attracted support from Arrington Capital, Republic Digital, and other asset managers.
Sharps Technology (Nasdaq: STSS / STSSW) completed a $400M PIPE financing to build the world’s largest Solana (SOL) treasury, with investors including ParaFi, Pantera, and Monarq. It signed an MoU with the Solana Foundation to buy $50M SOL at a 15% discount.…
— Wu Blockchain (@WuBlockchain) August 25, 2025
The company priced the transaction at $6.50 per unit. Each unit included either common stock or pre-funded warrants alongside stapled warrants exercisable at $9.75 for three years. Closing is scheduled on or around August 28, pending routine approvals.
Proceeds will go toward acquiring Solana tokens and launching dedicated treasury operations. The company confirmed it will also allocate part of the funds to working capital and corporate needs. A private placement of this size marks one of the largest treasury-focused financings tied directly to a single blockchain asset.
In a press release dated August 25, the firm emphasized Solana’s growth as the fastest and most active blockchain globally. The release highlighted Solana’s high throughput, consistent uptime, and broad adoption by institutions exploring tokenized markets.
Solana Foundation Deal and Market Position
Alongside the financing, Sharps Technology entered a memorandum of understanding with the Solana Foundation.
Under the agreement, it will purchase $50 million in SOL directly from the foundation at a 15% discount based on a 30-day weighted average price. The discount deal is contingent on certain conditions, including the use of proceeds from a public offering.
The company brought in new leadership to guide the strategy. Alice Zhang, recently named Chief Investment Officer and board member, will oversee treasury operations. She described Solana as a foundation for digital markets capable of supporting real-time settlement across asset classes.
James Zhang, co-founder of Jambo and an active figure within the Solana ecosystem, will advise the initiative. His role will include working with asset managers like ParaFi and Monarq to expand the treasury and integrate staking yields. Solana currently offers around 7% staking rewards, the highest among the top five blockchains.
Sharps Technology pointed to Solana’s developer growth, app revenue, and transaction volume as key factors behind the decision. Data showed 3.8 million active wallets and more than $6 billion in daily trading activity in 2025, underlining liquidity and adoption.
