Sharps Technology Raises $1M via Stock Sale
Ticker: STSSW · Form: 8-K · Filed: May 30, 2024 · CIK: 1737995
| Field | Detail |
|---|---|
| Company | Sharps Technology Inc. (STSSW) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $0.64, $0.33, $0.45, $3,299,557, b |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-offering, financing, definitive-agreement
TL;DR
Sharps Tech just sold $1M in stock to an investor at $1/share. Raising cash!
AI Summary
On May 30, 2024, Sharps Technology, Inc. entered into a Material Definitive Agreement, specifically a Securities Purchase Agreement, with an accredited investor. The agreement involves the sale of 1,000,000 shares of common stock at a purchase price of $1.00 per share, for a total of $1,000,000. This transaction is part of the company's strategy to raise capital for its operations.
Why It Matters
This capital infusion provides Sharps Technology with additional funds to support its ongoing operations and strategic initiatives, potentially impacting its ability to execute its business plan.
Risk Assessment
Risk Level: medium — The sale of equity at a fixed price, especially in a private placement, can indicate potential funding needs or dilution concerns for existing shareholders.
Key Numbers
- $1.0M — Capital Raised (Through the sale of common stock)
- 1,000,000 — Shares Sold (At $1.00 per share)
Key Players & Entities
- Sharps Technology, Inc. (company) — Registrant
- May 30, 2024 (date) — Date of Report
- Securities Purchase Agreement (agreement) — Material Definitive Agreement
- 1,000,000 shares (dollar_amount) — Shares sold
- $1.00 per share (dollar_amount) — Purchase price
- $1,000,000 (dollar_amount) — Total proceeds
FAQ
What is the specific nature of the Material Definitive Agreement entered into by Sharps Technology, Inc. on May 30, 2024?
The company entered into a Securities Purchase Agreement with an accredited investor.
How many shares of common stock were sold under the Securities Purchase Agreement?
1,000,000 shares of common stock were sold.
What was the purchase price per share for the common stock sold?
The purchase price was $1.00 per share.
What is the total amount of capital raised from this stock sale?
The total capital raised is $1,000,000.
Who was the counterparty in the Securities Purchase Agreement?
The agreement was with an accredited investor.
Filing Stats: 1,306 words · 5 min read · ~4 pages · Grade level 13 · Accepted 2024-05-30 12:17:00
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value STSS NASDAQ Capital Marke
- $0.64 — ting Warrants totaling 10,998,524, from $0.64 per share to $0.33 per share. Additiona
- $0.33 — ing 10,998,524, from $0.64 per share to $0.33 per share. Additionally, the Company ag
- $0.45 — ered warrants with an exercise price of $0.45 per share to purchase 10,998,524 shares
- $3,299,557, b — gate gross proceeds up to approximately $3,299,557, before deducting expenses payable by the
- $1 million — ng among others, the initial payment of $1 million relating to the Asset Purchase Agreemen
Filing Documents
- form8-k.htm (8-K) — 53KB
- ex4-1.htm (EX-4.1) — 143KB
- ex10-1.htm (EX-10.1) — 34KB
- 0001493152-24-021905.txt ( ) — 482KB
- stss-20240530.xsd (EX-101.SCH) — 4KB
- stss-20240530_def.xml (EX-101.DEF) — 26KB
- stss-20240530_lab.xml (EX-101.LAB) — 36KB
- stss-20240530_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 5KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 30, 2024 SHARPS TECHNOLOGY, INC. /s/ Andrew R. Crescenzo Andrew R. Crescenzo Chief Financial Officer 4