Sharps Technology, Inc. announced a private placement of units at a price of $0.80 per unit for gross proceeds of $5,600,000 on September 27, 2023. The units consist of pre-funded warrants to purchase up to 2,581,479 common shares and common warrants to purchase 8,750,000 common shares at an exercise price of $0.64 per share. The exercise price per pre-funded warrant is $0.001 per share.

The private placement warrants will be exercisable immediately subject to registration and will have a 5.5-year term from the initial exercise date. The transactions are expected to close on or about September 29, 2023, subject to the satisfaction of customary closing conditions.