Sharps Technology, Inc. (NASDAQ: STSS) reported its shares flat midday Wednesday. The company, an innovative medical device and pharmaceutical packaging company offering patented, best-in-class syringe products, encourages its shareholders to participate actively in the upcoming special meeting of stockholders to be held on July 15, at 10:00 a.m. eastern time.
The Board of Directors emphasizes the importance of this shareholders’ vote, specifically so that the Company can achieve its goal of passing the three proposals as listed and explained in the Company’s definitive proxy statement filed on June 26, 2024. The Company encourages you to vote, even if you no longer own the shares but were a shareholder of record on the record date of May 17, 2024.
Failure to secure the requisite number of votes to achieve the Company’s goal of passing these three proposals may materially impair the Company from executing essential business matters and may limit the Company’s ability to operate successfully in the future, while also prohibiting the Company from conducting important business matters such as: (1) increasing the authorized number of shares of common stock, if required for future equity transactions; (2) in its discretion, to effectuate a reverse stock split of the Company’s common stock, at a ratio of up to 1-for-8, if required to maintain our Nasdaq listing; and (3) to issue securities in non-public offerings where the maximum discount will be equivalent to a discount not to exceed 20% below the market price of the Company’s common stock.
STSS shares actually fell 0.5% to 23.67 cents.
