SOL Strategies files initial prospectus to raise up to $1 billion to expand Solana investment

Canada-listed investment firm Sol Strategies announced that it has filed a preliminary base shelf prospectus with local securities regulators to raise up to $1 billion to further its investment in the Solana ecosystem.In its Tuesday press release, SOL Strategies stated that the filing and final approval of the prospectus would allow it to offer up to $1 billion in common shares, warrants, subscription receipts, units, or debt securities."The filing of a base shelf prospectus supports our growth strategy by providing us with the flexibility to access capital as future opportunities arise in the rapidly evolving Solana ecosystem," said Sol Strategies CEO Leah Wald. However, the company noted that it currently does not have immediate plans to issue securities, and may never pursue such an issuance.Sol Strategies rebranded last year from Cypherpunk Holdings — a holding company initially focused on acquiring bitcoin and crypto-related equities — to concentrate on its Solana investment strategy. Last month, the company announced it had secured a $500 million convertible note facility in partnership with ATW Partners to expand its SOL cryptocurrency holdings. Sol Strategies said in a follow-up press release that it spent its entire first tranche of $20 million from the financing to purchase 122,524 SOL.Since shifting its focus to investment in Solana, Sol Strategies has seen its stock value surge over 2,000%, trading at $2.27 as of Wednesday, according to Google Finance data.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.