Core Viewpoint - The company emphasizes the importance of shareholders voting 'FOR' the proposed reverse stock split to maintain its Nasdaq listing and avoid delisting to the OTC Markets [1][4][6]. Group 1: Importance of Voting - A positive shareholder vote is crucial for Sharps Technology to comply with Nasdaq's minimum bid price requirement of $1.00 per share [7]. - The company has scheduled a special shareholder meeting on March 28, 2025, urging shareholders to submit their proxy votes beforehand [5]. - The Board of Directors unanimously supports the reverse stock split proposal and encourages all shareholders to vote in favor [5][6]. Group 2: Consequences of Delisting - Failure to approve the reverse stock split could lead to delisting from Nasdaq, resulting in trading on the OTC Markets, which may significantly reduce liquidity [2][4]. - Delisting could adversely affect the value of the company's securities and complicate trading volume, making it harder for investors to buy and sell shares [6][8]. - Maintaining a Nasdaq listing is essential for sustaining interest from analysts and brokers, which is vital for the company's growth initiatives [6][8]. Group 3: Reverse Stock Split Process - If approved, the reverse stock split will reduce the number of outstanding shares while maintaining the same percentage interest for shareholders [7]. - This mechanism is often used by companies to regain compliance with exchange listing requirements [7]. - The company has filed a Definitive Proxy Statement with the SEC regarding the reverse stock split proposal [8]. Group 4: Company Overview - Sharps Technology is a medical device and pharmaceutical packaging company specializing in patented syringe products with safety features [9]. - The company focuses on ultra-low waste capabilities and has a manufacturing facility in Hungary [9].
Sharps Technology, Inc. Reminds Shareholders to Vote Before Important Shareholder Meeting on March 28, 2025