Sol Strategies, a listed company, announced the completion of a $27.5 million private placement financing, which will be used to expand SOL reserves

According to BlockBeats, on January 9, Sol Strategies Inc. (CSE: HODL), a Canadian listed company, announced the completion of a private placement financing of 27.5 million Canadian dollars, which was fully subscribed by ParaFi Capital. The funds will be used to expand SOL reserves, expand validator business and daily operations.

This financing includes convertible bond units, each unit contains convertible bonds with a par value of 1,000 Canadian dollars and 400 warrants, with an annual interest rate of 2.5%. The conversion price and the exercise price of the warrants are both 2.50 Canadian dollars per share. The convertible bonds can be redeemed at 112% of the par value plus accumulated interest after three years, and the delivery is expected to be completed on January 16, 2025.