The Canadian company #SOL Strategies has filed a preliminary prospectus that grants it the right to raise up to $1 billion through various financial instruments. The funds raised are intended to be used for purchasing Solana ($SOL ) and launching validators on the network.

The company has submitted the documents to regulators in each Canadian province. At the same time, it emphasized that the prospectus does not constitute a commitment, and the organization currently has no concrete plans to issue debt securities in the near term.

Despite the positive news, SOL Strategies’ stock is trading down 10% on the daily chart, with a five-day drop of over 12%.