SOL Strategies, a Toronto-listed digital-asset firm, has announced the acquisition of a convertible note facility worth up to $500 million to bolster its investments in the Solana network. Following the announcement, the company’s shares increased by as much as 18%, ultimately settling at a 7% rise. The firm will utilize this capital for purchasing SOL tokens and expanding its blockchain validator operations. This facility is noted as the largest of its kind within the Solana ecosystem, indicated by CEO Leah Wald. The initial $20 million tranche with ATW Partners is expected to finalize by May 1, with interest paid in SOL based on staking yield. Moreover, SOL Strategies is considering a move to the Nasdaq to attract a wider investor base, following the path of other Canadian firms entering U.S. markets. As of last month, the firm held over 267,000 SOL tokens, valued at over $40 million, and has recently made acquisitions to enhance its validator operations, totaling 3.35 million SOL staked, establishing a significant presence in the Solana ecosystem.

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