The Sol Strategies (HODL) shares, a firm of digital assets that are quoted in Toronto, jumped after the company said it assured an installation of convertible notes of up to $ 500 million to increase its investments centered on the Red Solana.
Capital will be used exclusively to buy tokens sun and expand the company’s validader operation of the company, the company said in a statement. Hodl shares increased up to 18% to C $ 2.16 before reducing some of the profits, but still rose 7% from yesterday.
“This is the largest financing installation of its kind in the Solana ecosystem and the first directly linked to performance,” said the CEO Leah Wald in the statement. “Every dollar implemented is generated immediately and accumulates both for our balance sheet and in our validator business. This structure is not only innovative, it is very scalable.”
The initial section of $ 20 million of the agreement is expected to be signed with the private capital investment firm based in New York, Atw Partners, closed on May 1, the company said. The interest in the convertible notes will be paid in Sol, calculated as up to 85% of the rethinking performance in the company rethinking with the validators of the company.
The company said it is also exploring a transfer to the Nasdaq stock market in the United States, giving access to a deeper investor base. The measure follows similar plans of the Digital Assets investment firm of Canada Galaxy Digital, which will debut in Nasdaq in May after receiving regulatory approval earlier this month.
Sol Strategies, directed by Wald, co -founder of the Digital Assets Manager, Valkyrie Investments, headed the movement to adapt the Bitcoin Treasury strategy of Michael Saylor to alternative cryptocurrencies. The firm was 267,151 tokens sun from last month, with a value of more than $ 40 million at current prices. He also bought three validator companies last month, which brought the total amount of sun staked in the company’s validators at 3,351,617 Sun, or more than $ 500 million.
The real estate firm that is quoted in the United States, Janover, now known as Development Corp, recently followed the steps of Sol Strategies in the search for a treasury and validator operator strategy centered on Solana.
Read more: Janover takes the Saylor Playbook page, doubleing Sol Stack at $ 20 million as the shares shoot 1700%
