Pantera Capital Set to Acquire Solana Through a Public Company

Son Min

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.'.

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