UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
SCHEDULE
14A
Proxy
Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
| Filed
by the Registrant |
☒ |
| Filed
by a Party other than the Registrant |
☐ |
| Check
the appropriate box: |
| |
| ☐ |
Preliminary
Proxy Statement |
| ☐ |
Confidential,
For Use of the Commission Only (as Permitted by Rule 14a-6(e)(2)) |
| ☐ |
Definitive
Proxy Statement |
| ☒ |
Definitive
Additional Materials |
| ☐ |
Soliciting
Material Pursuant to § 240.14a-12 |
SHARPS
TECHNOLOGY, INC.
(Name
of Registrant as Specified in its Charter)
(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)
| Payment
of Filing Fee (Check the appropriate box): |
| |
| ☒ |
No
fee required. |
| |
|
| ☐ |
Fee
paid previously with preliminary materials. |
| |
|
| ☐ |
Fee
computed on table below per Exchange Act Rules 14a-6(i) (1) and 0-11. |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported): September 30, 2024
Sharps
Technology, Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Nevada
(State
or Other Jurisdiction of Incorporation)
| 001-41355 |
|
82-3751728 |
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
105
Maxess Road, Melville, New York 11747
(Address
of Principal Executive Offices)
(631)
574 -4436
(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
| ☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common
Stock, $0.0001 par value |
|
STSS |
|
NASDAQ
Capital Market |
| Common
Stock Purchase Warrants |
|
STSSW |
|
NASDAQ
Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
7.01 Regulation FD Disclosure
On
September 30, 2024, Sharps Technology, Inc. (the “Company”) issued a press release. A copy of the press release is furnished
hereto as Exhibit 99.1 and incorporated herein by reference.
Exhibits
9.01 Financial Statements and Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date:
September 30, 2024
| SHARPS
TECHNOLOGY, INC. |
|
| |
|
| /s/
Robert Hayes |
|
| Robert
Hayes |
|
| Chief
Executive Officer |
|
Exhibit
99.1
Sharps
Technology, Inc. Reminds Shareholders to Vote Before Important Shareholder Meeting on October 7, 2024
NEW
YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) — Sharps Technology, Inc. (NASDAQ: STSS) (the “Company”), an innovative medical
device and pharmaceutical packaging company offering patented, best-in-class syringe products, is reminding shareholders to vote
their proxy in favor of the Company’s proposal before the shareholder meeting scheduled to be held on October 7,
2024 at 10:00 a.m. Eastern Time.
“Please
take a very important step to preserve your investment and to help ensure that Sharps Technology can continue to execute its business
plan,” said Robert M. Hayes, Chief Executive Officer. “We are asking you to vote today ‘FOR’ the reverse
split of the Company’s common stock so that we can regain compliance with NASDAQ’s minimum bid price requirement and
so that our common stock can remain listed on NASDAQ. This request is consistent with the letter that was included in the Proxy
materials previously sent to investors by either email or mail.”
“We
acknowledge your support and approval at the July 15, 2024 special shareholder meeting for up to a 1-for-8 reverse stock
split. Please note that we have not implemented the reverse stock split that was approved in July,” continued Mr. Hayes.
“Based on recent communications and a hearing with NASDAQ, the Board of Directors has recommended and approved a further range
for the reverse stock split of 1-for-8 up to 1-for-22 to provide the best opportunity to remain NASDAQ compliant in the
long-term.”
“We
thank the shareholders that have already voted for the reverse split proposal and would appreciate all of the shareholders who
have not yet voted to please vote your approval today.”
THE
FOLLOWING WAS CONSIDERED BY THE BOARD PRIOR TO THE APPROVAL RECCOMENDATION:
●
Without approval of the reverse stock split proposal at the October 7, 2024 special shareholder meeting, we expect that our stock
will be delisted from NASDAQ in the near future. We have been provided an extension to complete this reverse stock split
to achieve the minimum $1.00 NASDAQ stock price requirement.
●
If our common stock is delisted from NASDAQ, this could adversely affect the value of the securities that you hold and our trading volume,
making it more difficult to buy and sell our securities.
●
On the other hand, approval of the reverse stock split should help enable us to maintain our common stock’s volume and ease of
trading and encourage a broad range of investors to have the opportunity to invest in our Company. This will encourage analysts
and brokers to remain interested in covering and dealing with our securities. The reverse stock split will also allow us to have more
access to capital to pursue our management team’s growth strategies.
Following
the reverse stock split, we expect to continue to be able to raise capital to grow the Company. Unfortunately, this will likely
be more challenging without your vote today “FOR” the reverse stock split proposal.
HOW
YOU CAN HELP:
The
Definitive Proxy Statement on Schedule 14A regarding the special meeting of our shareholders (the “Special Meeting”), states
that it is scheduled to be held on Monday, October 7, 2024. Shareholders as of the Special Meeting’s record date, August 13,
2024, are entitled to vote at the Special Meeting, but are encouraged to vote their proxy beforehand. Sharps’ Board
of Directors will unanimously vote in favor of each of the reverse stock split proposal and urges all shareholders to approve the reverse
stock split by voting “FOR” the proposal. Please vote your shares “FOR”
the proposal today by responding to the proxy materials that were previously sent to all shareholders.
If
you require any assistance with voting your shares, please contact our proxy solicitation firm at the telephone number and email below:
ADVANTAGE
PROXY, INC.
P.O.
Box 10904
Yakima,
WA 98909
Toll
Free: (877) 870-8565
Collect:
(206) 870-8565
Email:
ksmith@advantageproxy.com
REVERSE
STOCK SPLIT PROCESS:
If
the proposal is approved, after the reverse stock split, each shareholder will hold the same percentage interest in the Company as before
the reverse stock split; all shareholders will simply hold fewer shares. A reverse stock split decreases the number of our outstanding
shares and increases the price per share – and is a mechanism often used by companies to regain and/or maintain compliance with
an exchange’s “minimum bid price” listing requirement. For the purpose of regaining compliance with NASDAQ requirements,
NASDAQ’s minimum listing price per share is $1.00.
You
can read more about the reverse stock split proposal in the Definitive Proxy Statement on Schedule 14A, which was filed with the Securities
and Exchange Commission (SEC) on September 4, 2024, and by visiting www.virtualshareholdermeeting.com/STSS2024SM2
A
vote “FOR” the proposal will help protect your investment in Sharps Technology and ensure that you can
benefit fully from future potential shareholder value creation. We appreciate your continued interest in Sharps Technology, and we are
eager to share more with you in future communications.
About
Sharps Technology, Inc.
Sharps
Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe
products to the healthcare industry. The Company’s product lines focus on providing ultra-low waste capabilities, that incorporate
syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized
copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary and is partnering
with Nephron Pharmaceuticals to expand its manufacturing capacity in the U.S. For more information about Sharps Technology, please visit
the website at: http://sharpstechnology.com.
Forward-Looking
Statements
The
foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not
relate solely to historical or current facts, including without limitation statements regarding the Company’s product development
and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,”
“project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,”
“should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements
are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to
the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect
current plans. Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual
results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Although the Company believes
that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, performance,
or achievements. Except as required by applicable law, including the security laws of the United States, the Company does not intend
to update any of the forward-looking statements to conform these statements to actual results.
Investor
Relations:
Dave
Gentry
RedChip
Companies, Inc.
1-800-RED-CHIP
(733-2447)
Or
407-644-4256
STSS@redchip.com
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