Odaily News Canadian listed investment company SOL Strategies recently submitted a preliminary base prospectus to local securities regulators, planning to raise up to $1 billion to further expand its investment in the Solana ecosystem. The company said the move will provide it with the flexibility to issue common shares, warrants, subscription receipts, units or debt securities in the future when appropriate. There are currently no plans to issue.
SOL Strategies, formerly known as Cypherpunk Holdings, once focused on Bitcoin and crypto asset investments, but has since shifted its focus to the Solana ecosystem. In April, the company announced a $500 million convertible bond financing facility with ATW Partners, and has used the first $20 million to purchase 122,524 SOLs. The company's stock price has risen by more than 2,000% since the strategic adjustment, and is currently trading at $2.27. (The Block)