Sharps Technology, Inc.
(Note: Sharps Technology, Inc. slightly upsized its IPO – a unit offering – at pricing on April 13, 2022, by increasing the number of units to 3.75 million – up from 2.45 million units – and priced each unit at $4.25 – $1 below the bottom of its $5.25-to-$7.25 range – to raise $15.94 million. The unit IPO raised about $630,000 more than the estimated proceeds under the previous terms. IPOScoop has NO CALL on unit IPOs that are not SPACs or blank-check companies. Each unit consists of one share of common stock and two warrants to buy one share of common stock. The stock – symbol “STSS” – and the warrants – symbol “STSSW” – were expected to start trading Thursday, April 14, on the NASDAQ.)
Sharps Technology, Inc. is a medical device company that has designed and patented various safety syringes which we are seeking to commercialize.
Our safety syringes products, which we refer to as the Sharps Provensa™, are ultra-low waste and have passive safety features, which we believe will provide us a competitive advantage over other syringes. Sharps Provensa is a patented and FDA-cleared safety syringe addressing the important needs of the global healthcare market. We received FDA clearance for the Sharps Provensa on June 12, 2006, for subcutaneous and intramuscular injections into the human body.
**Reverse Stock Split note from the prospectus: “Prior to completion of this offering, we will reincorporate as a Nevada corporation (“Sharps Nevada”), and in conjunction therewith, every 3.5 outstanding shares of common stock of the Company will convert into one share of common stock of Sharps Nevada (the “Reverse Split”). All share numbers in this registration statement have been adjusted to give effect to this Reverse Split, except in the financial statements or as otherwise indicated.”
Note: Sharps Technology reported no revenue and a net loss of $4.66 million for the year ended Dec. 31, 2021, according to the prospectus.
|Industry:||Surgical & Medical Instruments & Apparatus|
|Address||105 Maxess Road, Ste. 124 Melville, New York 11747|
|Phone Number||(631) 574 -4436|
|View Prospectus:||Sharps Technology, Inc.|
|Revenues||$0 mil (last 12 months)|
|Net Income||$-4.66 mil (last 12 months)|
|Price range||$4.25 - $4.25|
|Est. $ Volume||$15.9 mil|
|Manager / Joint Managers||Aegis Capital Corp.|
|Expected To Trade:||4/14/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|