TechFlow news, on November 20, according to official information, Canadian investment fund SOL Global Investments announced that it has entered into an agreement with Canaccord Genuity Corp. and Clarus Securities Inc., serving as joint lead underwriters and joint bookrunners, on behalf of a group of underwriters.
Under the agreement, the underwriters will conduct a private placement of up to 18 million shares to the company at an offering price of USD 0.20 per share on a "best efforts" basis; this offering is expected to generate total gross proceeds of up to USD 3.6 million for the company.
The company intends to use the net proceeds from the offering to purchase Solana tokens via cryptocurrency exchanges at prevailing market prices. The company also explicitly stated that Solana tokens acquired from the net proceeds will not be used as collateral for any secured debt, current or future.
