Sharps technology, inc. announces closing of $16 million initial public offering

New york, april 19, 2022 (globe newswire) -- sharps technology, inc. (the “company”) (nasdaq: “stss” and “stssw”), an innovative medical device company offering patented, best-in-class, single use smart safety syringe products, today announced the closing of its initial public offering of 3,750,000 units at a public offering price of $4.25 per unit. each unit consisted of a share of common stock and two warrants to purchase one share of common stock each with an exercise price of $4.25. the underwriter partially exercised its over-allotment option with respect to 1,125,000 warrants. at the closing, the company issued an aggregate of 3,750,000 shares of common stock and 8,625,000 warrants. gross proceeds for the offering were approximately $16 million, before deducting underwriting discounts and commissions and estimated offering expenses.
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