SOL Strategies plans to buy more Solana with $1 billion
The post SOL Strategies plans to buy more Solana with $1 billion appeared on BitcoinEthereumNews.com.
SOL Strategies, a publicly traded Solana infrastructure company, has announced plans to raise $1 billion. The firm disclosed today that it has filed a preliminary prospectus with regulators to disclose its intention. According to the announcement, the company filed the prospectus with securities regulators in all the Canadian provinces and territories. This is only a first step, as regulators will only approve once they have received and acknowledged the final base shelf prospectus. Based on the prospectus, SOL Strategies wants to issue up to $1 billion in securities over the next 25 months. The company noted that it can do so through common shares, warrants, debt securities, units, or subscription receipts. However, it noted that there is no final decision yet on whether it wants to issue these securities, and it only filed the preliminary prospectus to improve its flexibility if it decides to go ahead with the plan later. The announcement reads: “The Company has filed this Preliminary Shelf Prospectus to increase its financial flexibility going forward. SOL Strategies currently has no immediate plans to issue any securities under it and may never proceed with any such issuance.” SOL Strategies added if it decides to offer the securities, its final base shelf prospectus would contain all the terms and how it intends to use the proceeds of the raised funds. The company CEO, Leah Wald, also confirmed this, noting that the filing aligns with its growth strategy and allows it to access capital for any opportunity within the Solana ecosystem. SOL Strategies remains bullish on Solana Meanwhile, SOL Strategies’ plan reflects its bullishness on SOL. The company, formerly Cypherpunk Holdings, recently bought 122,524 SOL for $18.25 million using the initial $20 million of its $500 million convertible note facility. With that acquisition, its total holdings increased to 349,322 SOL. Beyond…
Filed under: News - @ May 29, 2025 11:24 am