SOL Strategies Submits $1 Billion Fundraising Prospectus, Intends to Increase Investment in Solana Ecosystem

Mars Finance News: SOL Strategies, a Canadian publicly listed investment company, recently submitted a preliminary base prospectus to local securities regulators, planning to raise up to $10 billion to further expand its investment in the Solana ecosystem. The company stated that this move will provide flexibility for potentially issuing common shares, warrants, subscription receipts, units, or debt securities in the future. Currently, there are no specific issuance plans. SOL Strategies, formerly known as Cypherpunk Holdings, previously focused on Bitcoin and crypto asset investments, and shifted its focus to the Solana ecosystem last year. In April this year, the company announced a $500 million convertible debt financing arrangement with ATW Partners and has already used the first $20 million to purchase 122,524 SOL. The company's stock price has risen over 2000% since its strategic adjustment and is currently trading at 2.27 Canadian dollars. (The Block)