Core Viewpoint - Sharps Technology, Inc. has announced a public offering expected to raise approximately $20 million, aimed at supporting its operations and working capital needs [1][4]. Offering Details - The offering includes 14,285,714 Common Units, each comprising one share of Common Stock or one Pre-Funded Warrant, along with Series A and Series B Registered Common Warrants, both with an exercise price of $1.75 [2]. - The public offering price per Common Unit is set at $1.40, with Pre-Funded Units priced at $1.3999 [2]. - Aegis Capital Corp. has been granted a 45-day option to purchase additional shares and warrants, up to 15% of the total sold in the offering [3]. Financial Proceeds and Use - The gross proceeds from the offering are anticipated to be around $20 million, with the transaction expected to close on or about January 29, 2025 [4]. - The net proceeds will be utilized for general corporate purposes and working capital [4]. Company Overview - Sharps Technology specializes in innovative medical devices and pharmaceutical packaging, focusing on patented syringe products with advanced safety features [8]. - The company operates a manufacturing facility in Hungary and is collaborating with Nephron Pharmaceuticals to enhance its manufacturing capacity in the U.S. [8].

Core Insights - Sharps Technology, Inc. has signed a significant sales agreement worth over $50 million with a U.S.-based pharmaceutical company for the supply of customized 10mL SoloGard syringes, which will lead to the production of at least 500 million syringes and full utilization of current manufacturing capacity [1][3] - The company anticipates initial production and commercial deliveries to commence in Q1 2025, with a phased ramp-up throughout the year [1] - Sharps has also secured new sales agreements with a European medical supply company for the sale of 1mL and 3mL SecureGard inventory, with expectations to sell all available inventory in the coming months [2] Sales and Revenue Projections - The Hungary facility is projected to generate up to $400,000 in revenue in December 2024, with internal revenue targets of over $5 million in 2025, $15 million in 2026, and $20 million in 2027 [4] - The expansion in Hungary will increase the annual production capacity for SecureGard to over 100 million units and SoloGard to over 125 million units [4] Market Demand and Growth - There is a growing demand for Sharps' injection solutions due to the preference for injectables in various therapies, including vaccines and biologics, as well as challenges faced by competitors, such as increased tariffs and quality issues with Chinese syringes [3] - The company is exploring collaborations with Hungarian investment opportunities to support the expansion of manufacturing capacity [3] Manufacturing and Compliance - Sharps is in the process of acquiring manufacturing assets at the InjectEZ facility in Columbia, SC, with updates expected after the new year [5] - The company has regained compliance with NASDAQ's listing rules, as confirmed in a notification received on November 13, 2024 [6]

Financial Performance - As of September 30, 2024, the company had an accumulated deficit of $29,918,777 and a net loss of $4,769,774 for the nine months ended September 30, 2024[109]. - As of September 30, 2024, the Company reported a net loss of $1,685,060, a decrease of 16% from the net loss of $2,022,344 in the same period of 2023[135]. - For the nine months ended September 30, 2024, the net loss was $4,769,774, a 29% decrease from $6,739,999 in 2023[143]. - The Company has not generated significant revenue from syringe product sales since its inception in 2017[109]. - The Company has not generated any significant syringe revenue to date[136]. Operational Challenges - The company has faced delays in the commercialization of the Sharps Provensa product line, with no current timeline for final commercialization[116]. - The company had working capital of $67,820, which is insufficient to fund planned operations for the next 12 months, raising substantial doubt about its ability to continue as a going concern[110]. Research and Development - The company has incurred substantial research and development expenses primarily related to its syringe products and plans to continue these efforts[117]. - Research and Development (R&D) expenses for the three months ended September 30, 2024, decreased to $145,611, down 35% from $225,191 in 2023[137]. Revenue Generation and Sales Agreements - The company has produced commercial quantities of its products and built inventory to support orders in late 2024 and in 2025[113]. - A Purchase Order for the first Securegard sales to a South America distributor was shipped in June 2024, marking the company's entry into international markets[114]. - The company entered into a Supply Agreement with Stericare Solutions for the purchase of 520 million units of 10ml polypropylene Sologard syringes, with expected revenues in excess of $50 million[124]. - The company entered into a cooperative sales and distribution agreement with Roncadelle, appointing each other as exclusive distributors in their respective regions[123]. Stock and Financing Activities - The Company approved a reverse stock split at a ratio of 1-for-22, effective October 16, 2024[128]. - The company’s common stock was at risk of delisting from Nasdaq due to non-compliance with listing rules, but a hearing request was filed to appeal the determination[126]. - The Company plans to seek funding through equity offerings and/or debt financing opportunities[150]. - On September 20, 2024, the Company entered into a securities purchase agreement for an aggregate principal amount of $4,375,000[151]. - The Company offered warrant inducements to certain warrant holders, reducing the exercise price from $14.08 to $7.26 per share, resulting in gross proceeds of $1.9 million[154]. - The Company completed two simultaneous offerings on September 29, 2023, receiving aggregate gross proceeds of approximately $5.6 million, net of $716,000 in expenses[155]. - The Shelf Offering generated net proceeds of approximately $2.5 million, with 164,478 shares issued at an adjusted price of $7.26 per share[156]. - The Private Placement yielded net proceeds of approximately $2.4 million, with PIPE Warrants issued to purchase 397,727 shares at an adjusted exercise price of $7.26[157]. - The Offering completed on February 3, 2023, resulted in net proceeds of approximately $3.2 million, with units priced at $37.18, adjusted to $7.26 by May 30, 2024[158]. - The Company's IPO generated net proceeds of approximately $14.2 million, with $9.0 million recorded in Additional Paid in Capital and $5.2 million as a liability under ASC 815[159]. Cash Flow Analysis - Cash balance as of September 30, 2024, was $2,473,197, down from $3,012,908 as of December 31, 2023[149]. - Cash used in operating activities decreased to $5,172,135 for the nine months ended September 30, 2024, from $6,144,937 in the same period of 2023, due to lower operating expenses[159]. - Cash used in investing activities increased to $1,069,659 in 2024, primarily for fixed assets, compared to $431,379 in 2023[160]. - Cash provided by financing activities was $5,707,946 in 2024, down from $8,029,628 in 2023, reflecting various offerings and warrant exercises[161]. - The Company does not have any off-balance sheet arrangements as defined in Regulation S-K Item 303(a)(4)[162].

Core Viewpoint - Sharps Technology, Inc. is urging shareholders to vote in favor of a reverse stock split proposal to maintain compliance with NASDAQ's minimum bid price requirement and avoid delisting [2][3][4]. Company Overview - Sharps Technology, Inc. is a medical device and pharmaceutical packaging company that specializes in patented syringe products designed for safety and low waste [10]. - The company has a manufacturing facility in Hungary and is collaborating with Nephron Pharmaceuticals to enhance its manufacturing capacity in the U.S. [10]. Reverse Stock Split Proposal - The company is requesting approval for a reverse stock split in the range of 1-for-8 to 1-for-22 to ensure compliance with NASDAQ's minimum price requirement of $1.00 per share [2][3][8]. - A previous approval for a 1-for-8 reverse stock split was granted at a special shareholder meeting on July 15, 2024, but has not yet been implemented [2][3]. - The reverse stock split is expected to help maintain trading volume and attract a broader range of investors, which could facilitate capital access for growth strategies [5][6]. Shareholder Voting - The special shareholder meeting is scheduled for October 7, 2024, and shareholders are encouraged to vote their proxies beforehand [7][9]. - The Board of Directors unanimously supports the reverse stock split proposal and urges all shareholders to vote "FOR" it [7][9].

Core Points - Sharps Technology, Inc. has successfully closed a secured bridge loan financing of approximately $3.5 million [1][2] - The financing involved the sale of securities, where investors received $1,250 in secured notes and shares of common stock for every $1,000 invested, totaling $4,375,000 in principal amount of notes and 5,700,006 shares of common stock [2] - The net proceeds from the offering will be used for general corporate purposes and working capital [2] Company Overview - Sharps Technology is a medical device and pharmaceutical packaging company that specializes in patented smart-safety syringe products [6] - The company focuses on ultra-low waste capabilities and incorporates both passive and active safety features in its syringe technologies [6] - Sharps Technology has a manufacturing facility in Hungary and is collaborating with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. [6]

NEW YORK, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc. (NASDAQ: STSS) (the "Company"), an innovative medical device and pharmaceutical packaging company offering patented, best-inclass syringe products, today announced that it has entered into definitive agreements with institutional investors for a secured bridge loan financing (the "Bridge Financing") of approximately $3.5 million. The Bridge Financing consisted of the sale of approximately $3.5 million in securities, with purchasers agreein ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value STSS NASDAQ Capital Market Common Stock Purchase Warrants STSSW NASDAQ Capital Market FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

Definitive agreement sells out the 10mL SoloGard production capacity at Sharps' manufacturing site in the EU and drives expansion to support the project's growth in the future Sharps' portfolio of products provides attractive options to the U.S. Pharmaceutical Healthcare Industry as companies look for alternatives to Chinese-manufactured disposable syringes Sharps has exceeded the product sales commitments for the EU-based facility made to investors in the June 2022 Shareholder Letter NEW YORK, July 25, 202 ...

Voting deadline is Friday, July 12, at 11:59 p.m. Eastern Time. In order to continue Sharps Technology's solid progress toward achieving its goals, I want to share with you the importance of the three proposals on the shareholder ballot and ask you to take a few moments to vote to approve them. Our leadership team is moving forward aggressively to increase the Company's valuation through strategic partnerships and customer opportunities that will drive the need to expand our manufacturing capacity in Europe ...

Robert Hayes issues a letter to shareholders asking their voting approval on three proposals vital to the Company's continued growth. NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- Sharps Technology, Inc., (NASDAQ: "STSS" and "STSSW"), an innovative medical device and pharmaceutical packaging company offering patented, best-inclass syringe products, issues a shareholder letter from Robert Hayes, the Company's Chief Executive Officer. Dear Fellow Shareholders: Up for vote on the ballot are the following three p ...