Sharps Technology hits record low after pricing public offering

Skyai

28/01/2025 17:53

** Shares of medical packaging firm Sharps Technology  STSS.O  fall 70.7% to a record low of
42 cents 
    ** STSS says it is raising ~$20 mln through a public offering of 14,285,714 Common Units
    ** Each Common Unit consists of one share of Common Stock, one Series A Warrant and one
Series B Warrant
    ** Offering price per common unit is $1.40; represents a 4.1% discount to the stock's last
close
    ** STSS says it plans to use the net proceeds for general corporate purposes and working
capital
    ** STSS has $1.8 mln outstanding shares for $2.6 mln market capitalization — LSEG
    ** Aegis Capital Corp is the sole book-running manager for the offering
    ** STSS fell 76.7% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com))