TechFlow reported on January 9 that Sol Strategies Inc. (CSE: HODL), a Canadian publicly traded company focused on investing in the Solana ecosystem, announced the completion of a private placement financing of 27.5 million Canadian dollars, fully subscribed by ParaFi Capital. The funds will be used to expand its SOL reserves, grow its validator operations, and support general corporate purposes.
The financing consists of convertible debenture units, each unit comprising a 1,000 Canadian dollar face value convertible debenture bearing interest at 2.5% per annum and 400 share purchase warrants. The conversion price of the debentures and the exercise price of the warrants are both set at 2.50 Canadian dollars per share. The debentures may be redeemed at 112% of their principal amount plus accrued interest after three years, with settlement expected on January 16, 2025.
