Sharps Technology is sending a clear message to the market. The Nasdaq-listed company announced a $100 million stock repurchase program, giving it the flexibility to buy back shares through open-market purchases or negotiated transactions.
The move comes as Sharps continues to position itself as a major Solana digital asset treasury, while still operating its core medical device business.
A Buyback Backed by Balance Sheet Confidence
Sharps became a prominent Solana holder after completing a $400+ million private investment in public equity (PIPE) in August. The round included participation from ParaFi Capital and Pantera Capital, helping fuel the company’s crypto-focused treasury strategy.
Today, Sharps holds 2 million SOL, valued at roughly $448 million. Importantly, the company clarified that none of its Solana holdings will be sold to fund the buyback, easing concerns about potential crypto-driven selling pressure.
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Why Buy Back Shares Now?
Stock repurchase programs often signal that management believes shares are undervalued. They also reduce the number of shares outstanding, which can support earnings per share and long-term shareholder value.
Sharps emphasized that the program offers flexibility, allowing repurchases to adjust based on market conditions and trading opportunities rather than committing to a rigid schedule.
Market Reaction and Broader Context
Sharps Technology shares were trading at $6.52, down about 4% on Thursday. The stock has retreated sharply from its late-August peak near $16, which followed the initial announcement of its Solana treasury strategy.
The buyback also fits into a broader trend. Fellow Solana-focused treasury firm DeFi Development recently expanded its own repurchase plan from $1 million to $100 million, while companies like Upexi and Forward Industries continue to build sizable SOL positions.
Balancing Crypto Ambitions With Core Operations
Sharps has stated its ambition to become the largest Solana digital asset treasury, while keeping its pharmaceutical and medical device business running in parallel. Revenue from its core operations continues to support the company alongside its growing crypto holdings.
At the same time, management acknowledged the risks tied to the strategy, including Solana price volatility, regulatory uncertainty, competitive pressures, and macroeconomic shifts. The company says it will execute buybacks carefully, aiming to protect shareholder value without compromising its position in the Solana ecosystem.
In short, Sharps is doubling down on confidence—in its balance sheet, its crypto strategy, and the long-term value of its stock.
