Quick take:
The filing allows the company to make offerings of common shares, warrants, subscription receipts, units, and debt securities of up to $1 billion as per the prospectus.
SOL Strategies said the filing also enables it to increase its financial flexibility going forward.
The company plans to use the funds to expand its investments in Solana.
SOL Strategies, a publicly listed company in Canada, has filed a preliminary short-form base shelf prospectus with securities regulators in each of the provinces and territories of Canada.
In a Tuesday press release, the company said the filing and receipt of a final base-shelf prospectus allows it to offer common shares (including through “at-the-market” offerings), warrants, subscription receipts, units and debt for up to a maximum amount prescribed in the final base shelf prospectus.
The announcement follows the company’s $18 million investment in Solana tokens earlier in May. In April, it raised $500 million via a convertible note offering to buy and stake Solana tokens.
“The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem,” said Leah Wald, CEO of SOL Strategies. “This strategic move enhances our ability to act decisively when compelling investment opportunities present themselves.”
SOL Strategies is one of the few publicly traded companies not building their digital asset strategy around Bitcoin. Another company SharpLink, earlier this week raised $425 billion to establish an Ethereum treasury as part of its digital asset strategy.
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The post SOL Strategies Eyes $1 Billion Funding to Expand Solana Investment appeared first on NFTgators .
