Sharps Technology Partners with Pudgy Penguins for Solana Treasury Showcasing
New York, September 10, 2025 – Sharps Technology (NASDAQ: STSS), a medical device and pharmaceutical packaging company, has announced a strategic partnership with Web3 brand Pudgy Penguins to enhance its exposure to Solana-based digital asset treasury management.
The collaboration will see Pudgy Penguins’ intellectual property integrated with Sharps Technology’s Solana treasury operations, signaling a novel approach to engaging digital asset audiences. This move aligns with Sharps Technology’s recent acquisition of over two million SOL tokens valued at more than $400 million through a private placement of public equity led by Cantor Fitzgerald & Co.
James Zhang, Strategic Advisor to Sharps Technology, remarked, “Pudgy Penguins is one of the most recognized brands in the Web3 space and a cultural phenomenon captivating millions worldwide.” He emphasized the brand’s significant influence and reach within the ecosystem.
Pudgy Penguins, known for its distinct NFT collection, has secured partnerships with major corporations such as NASCAR, Walmart, and Lotte, producing content that has amassed over 220 billion views. The brand also gained institutional recognition with Canary’s recent filing of the PENGU ETF. Pudgy Penguins’ CEO, Luca Netz, expressed enthusiasm about the partnership, stating, “We are delighted to collaborate with STSS, which has developed one of the most institutionally recognized Solana treasuries in the market.”
Sharps Technology, traditionally focused on intelligent and secure syringe products and pharmaceutical packaging, has pivoted by establishing a digital asset treasury centered on accumulating SOL — the native token of the Solana blockchain. While specific initiatives resulting from this partnership have not been disclosed, the collaboration aims to create innovative digital asset engagement opportunities for both retail and institutional audiences leveraging Pudgy Penguins’ branding power.
Despite Sharps Technology’s recent stock volatility—with a 20% loss in the previous week and trading below its InvestingPro fair value—the company is advancing significant financial and executive changes. It recently entered a controlled equity offering agreement with Cantor Fitzgerald & Co. and Aegis Capital Corp., permitting the sale of up to $236.6 million in common stock, with Cantor Fitzgerald serving as the lead sales agent.
Moreover, Sharps Technology finalized a notable private placement exceeding $400 million to underpin its Solana asset strategy. This transaction, involving common stock and warrants, was slated to close around August 28, subject to customary closing conditions.
In leadership developments, Sharps Technology appointed Paul Danner as Executive Chairman effective June 30, succeeding Soren Christiansen, who transitioned to a member of the Compensation Committee. Timothy Ruemler was also named Chair of the Audit Committee, reflecting the company’s ongoing strategic recalibrations.
As Sharps Technology expands its footprint in the digital asset realm through this partnership with Pudgy Penguins, market observers will watch closely how the fusion of Web3 branding with established treasury strategies unfolds in the evolving crypto landscape.
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