Sharps Technology has announced a private placement exceeding $400 million to bolster its digital asset treasury strategy, with a focus on Solana (SOL). The transaction is anticipated to close around August 28, 2025, pending customary conditions. The funds will primarily be used to acquire SOL, establish a SOL treasury operations unit, and for general corporate purposes. The company has signed a non-binding Letter of Intent with the Solana Foundation, which includes a commitment to sell $50 million worth of SOL at a 15% discount to its 30-day time-weighted average price, contingent on certain conditions. This strategic move underscores Sharps Technology's commitment to integrating Solana into its digital asset finance strategy.