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].
Sharps Technology, Inc. Reminds Shareholders to Vote Before Important Shareholder Meeting on October 7, 2024