Summary
- Pantera Capital announced its plan to accumulate Solana (SOL) through a publicly listed company.
- Pantera stated that it will utilize up to $1.25 billion raised to acquire and hold Solana.
- A Pantera executive will join the board, and the listed company will change its name to 'Solana Co.'.
Cryptocurrency investment firm Pantera Capital is reportedly set to accumulate Solana (SOL) through a publicly listed company.
On the 26th (local time), The Information, citing sources familiar with the matter, reported, "Pantera Capital plans to raise up to $1.25 billion to establish a Solana holding company." Pantera intends to convert a Nasdaq-listed company into a Solana holding entity to acquire and retain Solana. However, the identity of the public company has not been disclosed.
The fundraising will begin by securing $500 million from investors, followed by potentially raising an additional $750 million through warrants. The initially secured $500 million will be invested in the Nasdaq-listed company, which will then use the funds raised through a new share issuance to purchase Solana. Reportedly, Pantera Capital will also invest $100 million directly in this deal.
Additionally, a Pantera executive is expected to join the board to lead the Solana acquisition strategy, and the public company plans to change its name to 'Solana Co.'.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit