Solana Company Prices $8 Million Share Sale Led by Mirae Asset to Boost SOL Purchases
Summary
- Solana Company said it signed an approximately $8 million share sale agreement led by global institutional investor Mirae Asset.
- The company said the proceeds will be used for additional purchases of Solana (SOL), working capital and business expansion, among other general corporate purposes.
- It said it is pursuing a strategy to increase SOL holdings per share by offering investors a put option that guarantees a 7%% internal rate of return (IRR).
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Solana Company, a publicly traded firm pursuing a Solana holding strategy, is carrying out a capital raise led by Mirae Asset.
The Wall Street Journal reported on April 27 that the company signed an agreement to issue about 3.07 million Class A common shares at $2.60 apiece to global institutional investors.
Mirae Asset is leading the offering, with HashKey Capital also participating. The deal is set to raise about $8 million, with net proceeds estimated at about $7.9 million.
The proceeds will be used to buy additional Solana tokens, as well as for working capital, business expansion and other general corporate purposes.
The company also signed a put option agreement allowing investors to sell back their shares if certain conditions are met. The structure guarantees an internal rate of return of about 7% a year.
Solana Company is a digital-asset treasury firm that strategically holds and manages Solana tokens. Its stated goal is to increase SOL holdings per share by combining capital-markets activity with on-chain operations.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
