NEW YORK, April 19, 2022 (GLOBE NEWSWIRE) — Sharps Technology, Inc., (NASDAQ: “STSS” and “STSSW”), an innovative medical device company offering patented, best-in-class, single use smart safety syringe products, today announced the closing of its initial public offering of 3,750,000 units at a public offering price of $4.25 per unit. Each unit consisted of a share of common stock and two warrants to purchase one share of common stock each with an exercise price of $4.25. The underwriter partially exercised its over-allotment option with respect to 1,125,000 warrants. At the closing, the Company issued an aggregate of 3,750,000 shares of common stock and 8,625,000 warrants. Gross proceeds for the offering were approximately $16 million, before deducting underwriting discounts and commissions and estimated offering expenses.
The common stock and warrants began trading on The Nasdaq Capital Market on April 14, 2022, under the symbols “STSS” and “STSSW,” respectively.
Aegis Capital Corp. acted as the sole book-running manager for the offering.
A registration statement on Form S-1 (No. 333-263715) relating to the securities sold in this offering was declared effective by the Securities and Exchange Commission (the “SEC”) on April 13, 2022. The offering is being made only by means of a prospectus. Copies of the final prospectus are available on the SEC’s website, www.sec.gov, or by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, 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, Inc. is a medical device company addressing global issues while engineering a safer future for healthcare providers and people everywhere through compassionate innovation. Sharps Provensa™ is the Company’s premier line of smart safety syringes that eliminate accidental needlestick injuries, prevent needle reuse, and reduce wasted medicine and vaccines—while retaining the intuitive simplicity of traditional syringes. Please visit SharpsTechnology.com to learn more.
