Sharps Technology Shares Almost Double Monday After Medical Device manufacturer announced A $ 400 million move to fund a new Treasury approach built around Solana’s native token. The stock jumped 96% from $ 7.40 to an intraday high of $ 14.53 before rehearsing at $ 12.01 in this writing.
Sharps signed a letter of intent to Solana Foundation to buy Solana (Sol) Tokens through a private investment in public equity (pipe) transactions – a type of financing deal in which accredited investors buy sharing a company that has been exchanged publicly in a discount on the current market price.
The deal, expected to close in or around August 28, will see Sharps getting $ 50 million worth of SOL token in a 15% discount on their 30-day average price.
Investors can fund their allocations using locked or locked SOL, receiving pre-funded and stapled warrants in return, a structure tied to equity exposure directly to Solana.
Sharps also announced the appointment of Jambo co-founder Alice Zhang as chief investment official to rule the shift and added James Zhang as a strategic advisor-both known numbers in Solana’s ecosystem.
Related: Galaxy Digital, Multicoin, Jump Crypto Plan $ 1B Solana Fund: Report
Health sector companies have pivoted in crypto treasures
Crypto treasury companies are companies that are publicly exchanged with digital assets such as Bitcoin (Btc) or sol on their balance sheet, which gives investors indirect exposure to crypto assets through their stock. The idea was first conceived by Michael Saylor of the approach in 2020, and since then Inspiration way -There are companies to follow the suit.
The model has recently gained traction in the health sector, where some small caps and mid-cap companies are pivoted to crypto wealth to vary and attract investors’ attention.
In November 2024, Hoth York -based biopharma developed therapies for skin diseases, cancer and autoimmune, said it would allocate $ 1 million to The Bitcoin as a Treasury ownertransferring as an inflation fence.
https://www.youtube.com/watch?v=NPZQD7TSQMG
In March, the trend reached the Atai Life Sciences, a listed biopharma listed in the NASDAQ that generates psychedelic -based mental health treatments. Founder Christian Angermayer says the company is Buy $ 5 million in Bitcoin.
In July, 180 life sciences, a biotech working on anti-inflammatory therapeutics, rebranded as ethzilla and announced plans to develop A $ 425 million Ether Treasury After its stock dropped 99%.
Wall Street firm recently warned Charles Schwab in an educational video Those companies “put large chunks of cash in a historical enemy -new owner who was not tied to their main business raised a red flag or two.”
Magazine: Asia Express: China’s microstrategy ‘sells all bitcoin and its Ethereum
