(26) SOL Strategies secures $500m in funding for Solana purchases and staking

By Micah Zimmerman Apr 23, 2025 Edited by Jayson Derrick
SOL Strategies Inc. has secured a financing facility of up to $500 million through a convertible note agreement with ATW Partners, the company announced Wednesday.


The publicly traded firm, which focuses on investments and infrastructure for the Solana sol1.47%Solana blockchain, said the funds will be used exclusively to purchase SOL tokens and support the company’s validator operations.

CoinMarketCap.Com SAT 4/26/025

VIRTUAL 90% TRUMP 90% BRETT 89% WIF 70% SUI 66%
WLD 61% BONK 54% AIC 52% HONEY 48% SNEK 48%
IO 48 % TURBO 123% DEEP 103% PENGU 89% AI162 89%
DOG 76% AIXBT 101% CETUS 94%

The first tranche of the facility will provide $20 million in capital, with additional drawdowns of up to $480 million available pending certain conditions.
The initial closing is expected to occur on or around May 1, 2025, according to a release shared with crypto.news.
This news reflects that of DeFi Development Corp and Upexi, both of which are planning to invest in a company’s strategy related to its Solana-based treasury.
This marks a novel approach in digital asset financing. Under the terms of the deal, SOL Strategies will stake the acquired SOL on its own validators, and the resulting staking yield, up to 85%, will be used to pay interest to the lender.
The notes are convertible into common shares of SOL Strategies at market price, and are being issued under an exemption that does not require registration under Canadian or U.S. securities laws.
The facility structure connects capital markets directly to staking economics, a model that may offer a blueprint for future institutional investments in proof-of-stake networks.
Cohen & Company Capital Markets is serving as placement agent for the deal and will receive a 4% finder’s fee on the proceeds of the initial closing.

While SOL Strategies is preparing for a potential Nasdaq uplisting, the company noted that future tranches of the facility remain subject to undisclosed conditions, and there is no guarantee the full $500 million will be utilized.
Stocks jump as investors react to tariffs news, Trump’s Powell flip
By Benson Toti Apr 23, 2025 Edited by Jayson Derrick
U.S. stocks opened higher on Wednesday April 23, 2025, with this happening amid a broader market reaction to latest tariffs news and comments on Federal Reserve chair Jerome Powell from President Donald Trump.
The Dow Jones Industrial Average rose 2.2%, gaining nearly 900 points, while the benchmark S&P 500 jumped 2.7%.

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