Sharps Technology, Inc. announced the signing of a 5-year, $200 million syringe Sales Agreement (SA) with Nephron Pharmaceuticals to complement the Company's Asset Purchase Agreement (APA) to acquire the InjectEZ specialty syringe manufacturing assets in West Columbia, South Carolina. The facility will be the only fully dedicated, specialized COC (cyclic olefin copolymer) prefillable syringe manufacturing plant in North America and was designed with innovative manufacturing capabilities to produce high-demand, specialty syringe systems. Product delivery is scheduled to begin late in the second quarter of 2025, with projected revenue totaling approximately $37 million for the first 12 months of sales. In concert with the proposed acquisition of the syringe facility, Nephron has agreed to a 5-year agreement to purchase Sharps' next-generation copolymer prefillable 10 mL and 50 mL syringes as well as 10 mL SoloGard polypropylene syringes, with minimum orders totaling over $200 million during the period.

Upon the completion of the plant startup requirements, Sharps is planning for product deliveries to begin late in the second Quarter of 2025 with revenue expected to total more than $35 million for the first twelve months of sales. InjectEZ Acquisition: The acquisition of manufacturing assets in the U.S. will enable Sharps to commercialize innovative copolymer prefillable syringe systems to the healthcare market beginning in the second quarter of 2025. The asset acquisition price is $35 million and the will be an assumption of certain related liabilities of up to $4 million.

The plant is a new facility with fully automated syringe system manufacturing, packaging, and distribution inWest Columbia, South Carolina. Once complete, this advanced facility will be the only fully committed COC prefillable syringe manufacturing Plant in North America, designed with innovative manufacturing capabilities to produced specialty syringe systems. The closing of the acquisition has been approved by BlackRock, the seller's senior lender. It will also be supported through a major investment from a strategic partner, and is expected to close within the next 60 days.

However, there can be no assurance that the acquisition will be completed, and the Sales Agreement is subject to the closing of the acquisition of the assets.