BUZZ-Sharps Technology hits record low after pricing public offering

Reuters01-28

** 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))

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