Nasdaq-Listed Company Sharps Technology (Stss) Much on as much as 70% on Monday with collecting $ 400 million to establish what it says could be the largest company’s digital asset box in Solana .
The company’s fundraising drew up some of the most active investors in digital assets, including Parafi, Pantera, Falconx, Coinfund and Arrington Capital. According to the agreement, shares were sold at $ 6.50 per year. Unit with affiliated warrants that could be exercised at $ 9.75. Closing is expected before August 28th.
The stock peaked card $ 13 in the morning us hours before paring winnings, an increase of 53% from $ 7.3 at Friday’s end.
The company plans to allocate the funds primarily to acquire sun, the native token for Solana Blockchain. Alice Zhang, co-founder of Solana-supported project Jambo, also joined the company as Chief Investment Officer and board member.
The Solana Foundation, the non-profit development organization that focuses on the Solana network, has committed to sell $ 50 million in Sol-Tokens with a 15% discount at a 30-day time-based average price, subject to conditions, according to the press release.
Sharps is the latest public company that is about accumulating cryptocurrencies, a recent trend that has captivated stock markets. These companies, often called digital asset boxes (Dats)Get money in capital markets to buy cryptos for the purpose of repeating the success of Michael Saylor’s strategy (Mstr). Strategy has become the largest business owner of Bitcoin with a stash to a value of $ 70 billion.
The fever is already expanded to Solana with sun -strategies (HODL)Defi development (DFDV) and upexi (Upxi) To be among listed companies that stack sun.
Dats A as a proxy game on crypto prices and most of them deal with a prize compared to the underlying holdings. However, they could come under pressure during the downturn of the market when the Premium contracts that close their ability to raise funds for fuel purchases.
Read more: Corporate Bitcoin Treasuries could raise credit risks, says Morningstar DBRS
Upcoming $ 1b Sol Treasury, DFDV to sell equity
Sharps’ relocation wasn’t the only Solana Treasury-related news on Monday.
Prominent cryptic companies Galaxy Digital, Multicoin Capital and Jump Crypto are reportedly seeking to collect $ 1 billion to build a treasury focused on sun. They plan to buy a listed company and hired Cantor Fitzgerald as a main banker.
Meanwhile Defi -Development (DFDV)Led by former leaders of Kraken, announced on Monday to gather $ 125 million by selling equity and trying to increase his Sun Holdings.
The stock tumbled 19% on the news.
Read more: BNB-focused Treasury Firm B-strategy seems to travel $ 1b with support from CZ’s YZI Labs
