ChainCatcher news, focusing on investing in Solana ecosystem, the Canadian listed company Sol Strategies Inc. announces a private placement financing of 27.5 million Canadian dollars, with ParaFi Capital committing to fully invest. The funds will be used to expand SOL reserves, grow the validator business, and for daily operations.

This financing includes convertible bond units, each unit containing a face value of 1000 Canadian dollars in convertible bonds 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 face value plus accrued interest after three years, with the settlement expected to be completed on January 16, 2025.