Sharps Technology, Inc closed the private placement for gross proceeds of $2,827,853 on September 29, 2023. The Company issued to the same investors units to purchase pre-funded warrants to purchase up to 2,581,479 shares of common stock and common warrants to purchase 8,750,003 shares of common stock at an exercise price of $0.64 per share. The purchase price for each pre-funded unit was $1.073, with an exercise price per pre-funded warrant of $0.001 per share.

The private placement warrants will be exercisable immediately subject to registration and will have a five and a half year term from the initial exercise date. The aggregate warrant coverage of the registered direct and the private placement was 1.25-1.Aegis Capital Corp. acted as the exclusive placement agent in connection with the placement and was paid a commission equal to 8.0% of the gross proceeds received by the Company in the PIPE Offering and a 1.0% non-accountable expense allowance.

The Company reimbursed Aegis $100,000 for certain fees and expenses incurred by them, including attorney fees. The Company also agreed to pay Aegis 10.0% of the proceeds from the exercise of the Warrants issued in the PIPE Offering.