Sol Strategies (Hodl) reached up to $ 500m credit facility to expand Solana Investment
Sol Strategies (Hodl) shares, a listed digital-asset firm listed in Toronto, jumped after the company said it secured a up to $ 500 million replaced note facilities to increase investments focused on the Solana network.
Capital is exclusively used for purchase Sol tokens and expand the operation of the company’s blockchain validator, the company said on a release. Hodl shares raised 18% to C $ 2.16 before a few of the gains, but still up to 7% from yesterday.
“This is the largest financing facility of its type in Solana ecosystems-and the first ever directly tied to staking harvest,” CEO Lea Wald said in the statement. “Every dollar deployed immediately generates yield, and is acclative on both our balance sheet and our Validator business. This structure is not just innovative-it is highly measured.”
The initial $ 20 million deal of deal, signed by the New York -based private equity equity firm, is expected to close on May 1, the company said. The interest in the replaceable notes will be paid to the SOL, which is calculated up to 85% of the staking harvest in SOL staked in the firm validators.
The company also said it also explored a move to the NASDAQ Stock Exchange in the US, which provides access to a deeper investor base. The move follows Similar plans of the firm listed in Canada listed in the Digital Asset Investment Galaxy Digital, which is set to debut in NasdaQ in May after regulating the regulation earlier this month.
Sol techniques, led by Wald, co-founder of Digital Asset Manager Valkyrie Investments, led the movement of adapting the Bitcoin treasury approach to Michael Saylor’s treasury to alternative cryptocurrencies. The firm held 267,151 SOL Tokens last month, worth more than $ 40 million in current prices. It also bought three Validator businesses last month, which brings a total amount of SOL staked to company validators to 3,351,617 SOL, or over $ 500 million.
Listed real estate firm Janover, now known as Defi Development Corp, recently followed Sol strategies’ footsteps in chasing a Solana dedicated to the crypto treasury and the validator operational approach.
