Form 8-K - Current report
17 Juni 2024 - 3:07PM
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported): June 13, 2024
Sharps
Technology, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Nevada
(State
or Other Jurisdiction of Incorporation)
001-41355 |
|
82-3751728 |
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
105
Maxess Road, Melville, New York 11747
(Address
of Principal Executive Offices)
(631)
574 -4436
(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
|
|
STSS |
|
NASDAQ
Capital Market |
Common
Stock Purchase Warrants |
|
STSSW |
|
NASDAQ
Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.01 Entry into a Material Definitive Agreement.
On
June 13, 2024, Sharps Technology, Inc., a Nevada corporation (the “Company”), entered into subscription agreements with certain
institutional investors, pursuant to which the Company agreed to issue and sell to the investors 2,239,000 shares (the “Shares”)
of Common Stock, par value $0.0001 per share of the Company at a price of $0.38 per share for gross proceeds to the Company of $850,820.00.
The
Shares to be issued in the offering were offered at-the-market under Nasdaq rules and pursuant to the Company’s Form 1-A (the “Offering
Statement”), initially filed by the Company with the Securities and Exchange Commission (the “SEC”) under the Securities
Act of 1933, as amended (the “Securities Act”), on May 21, 2024, and qualified on May 30, 2024.
Additionally,
pursuant to a warrant inducement agreement (the “Warrant Agreement”) entered into on June 13, 2024, between the Company and
certain investors, the investors exercised 1,000,000 warrants and the Company received $330,000.00 in gross proceeds, before
deducing placement agent fees and commission, and issued an aggregate of 1,000,000 new warrants (“New Warrants”) that
are exercisable at $0.45 per share. The New Warrants will expire on the five (5) year anniversary of their initial exercise date which
is six months from issuance. The New Warrant contains no re-set features and limited anti-dilution protection. If at the time
of exercise there is no effective registration statement registering the New Warrants, or the prospectus contained therein is not available
for the issuance of the New Warrants to the holder or the resale of the New Warrants by the holder, then the New Warrants may also be
exercised, in whole or in part, at such time by means of a “cashless exercise”.
The
offering closed on June 13, 2024.
Exhibits
9.01 Financial Statements and Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date:
June 17, 2024
SHARPS
TECHNOLOGY, INC. |
|
|
|
/s/
Robert Hayes |
|
Robert
Hayes |
|
Chief
Executive Officer |
|
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Jun. 13, 2024 |
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8-K
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Document Period End Date |
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|
Entity File Number |
001-41355
|
Entity Registrant Name |
Sharps
Technology, Inc.
|
Entity Central Index Key |
0001737995
|
Entity Tax Identification Number |
82-3751728
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
105
Maxess Road
|
Entity Address, City or Town |
Melville
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
11747
|
City Area Code |
631
|
Local Phone Number |
574 -4436
|
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|
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Common
Stock, $0.0001 par value
|
Trading Symbol |
STSS
|
Security Exchange Name |
NASDAQ
|
Common Stock Purchase Warrants |
|
Title of 12(b) Security |
Common
Stock Purchase Warrants
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Trading Symbol |
STSSW
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NASDAQ
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