$SOL #sevenstarcfi
☑️Sol Strategies Raises $20 Million in Debt Financing from ParaFi Capital to Expand Solana Staking Operations✨
Sol Strategies (token: HODL) announced on Thursday that it has raised $27.5 million CAD through the sale of a convertible debt instrument to expand its reach in the Solana ecosystem. The private placement from ParaFi Capital is expected to close by the end of next week.
Sol Strategies (tokens: CYFRF, HODL.CN) is raising $27.5 million CAD (about $19 million) through debt financing to purchase more SOL tokens and invest further in Solana’s trading infrastructure, according to an announcement on Thursday. This is the second multi-million dollar investment strategy the company has announced this week. Specifically, the Toronto-based company, formerly known as Cypherpunk Holdings, is raising money through a private sale of unsecured convertible bond units, a type of long-term debt instrument that can be converted into company stock, to ParaFi Capital. Sol Strategies’ depositary certificates consist of one bond with a principal value of C$1,000 and 400 warrants. The latter can be converted into stock at a strike price of C$2.50 at any time before the five-year anniversary of the financing closing, which is expected to be on Jan. 16. .
