Deep Tide TechFlow News, on January 9, Canadian public company Sol Strategies Inc. (CSE: HODL), focused on investing in the Solana ecosystem, announced the completion of a private placement financing of 27.5 million Canadian dollars, fully subscribed by ParaFi Capital. 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 consisting of a 1,000 Canadian dollar face value convertible bond 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 after three years at 112% of face value plus accumulated interest, with the expected completion of settlement on January 16, 2025.