Sharps Technology closes $3.8M PIPE; Berler no longer executive officer; warrant price cut to $1.56

Sharps Technology Inc.

Gross proceeds of ~$3.8M from issuance of 2,248,521 units at $1.69/unit to institutional investors.
Each unit consists of one share and one non-tradable warrant exercisable at $1.56 for 5 years.
Proceeds to support manufacturing of pre-filled syringes through partnership with Nephron Pharmaceuticals.
Barry Berler is no longer an executive officer, effective Feb. 1, 2023.
Exercise price of 2022 warrants reduced from $4.25 to $1.56, contingent on PIPE closing.

item 1.01 item 3.02 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Barry Berler

Executive Officer

STSS · Sharps Technology Inc.

Effective: 2023-02-01
Filed: February 6, 2023, 6:59 PM ET

As of February 1, 2023, the Company and Barry Berler determined that Mr. Berler will no longer be deemed an Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Barry Berler departed as Executive Officer at Sharps Technology Inc..

Action: no longer be deemed an Executive Officer
Role: Executive Officer

Exact text from the filing

As of February 1, 2023, the Company and Barry Berler determined that Mr. Berler will no longer be deemed an Executive Officer.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Sharps Technology Inc. entered into Placement Agent Agreement with Aegis Capital Corp. valued at commission of 10% of gross proceeds, plus 10% of warrant exercise proceeds, and $100,000 reimburseme (effective 2023-02-01).

Action: entry
Agreement: underwriting
Counterparty: Aegis Capital Corp.
Value: commission of 10% of gross proceeds, plus 10% of warrant exercise proceeds, and $100,000 reimburseme
Effective: 2023-02-01

Exact text from the filing

Aegis Capital Corp. (“Aegis”) acted as the exclusive placement agent in connection with the PIPE Offering under a Placement Agent Agreement, dated as of February 1, 2023, between the Company and Aegis (the “Placement Agent Agreement”). Pursuant to the Placement Agent Agreement, Aegis was paid a commission equal to 10.0% of the gross proceeds received by the Company in the PIPE Offering.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Sharps Technology Inc. entered into Securities Purchase Agreement (PIPE Agreement) with certain purchasers (the Purchasers) valued at issuance of 2,248,521 units at $1.69 per unit for aggregate gross proceeds of approximately $3.8 mil (effective 2023-02-01).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers (the Purchasers)
Value: issuance of 2,248,521 units at $1.69 per unit for aggregate gross proceeds of approximately $3.8 mil
Effective: 2023-02-01

Exact text from the filing

On February 1, 2023, Sharps Technology, Inc., (the “Company”) entered into a Securities Purchase Agreement (the “PIPE Agreement”), with certain purchasers (the “Purchasers”), for the issuance of 2,248,521 units (the “PIPE Offering”), at a purchase price of $1.69 per unit priced at-the-market under NASDAQ rules.

View on SEC.gov

119 material agreements filed in the last 30 days. Browse all material agreements →

Sharps Technology Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-003701

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