Sharps Technology, Inc. announced that it has raised $3.8 million. The Company will issue 2,248,521 units and pre-funded units at a purchase price of $1.69 per unit priced at-the-market under Nasdaq rules.The pre-funded units will be sold at the same price less the pre-funded warrant exercise price of $0.001. Each unit and pre-funded unit consist of one share of common stock (or pre-funded warrant) and one non-tradable warrant exercisable for one share of common stock at a price of $1.56.

The warrants have a term of five years from the issuance date. Gross proceeds were $3.8 million before deducting fees to the placement agent and other offering expenses payable by the Company. The transaction is expected to close on or about February 3, 2023