Sol Strategies Secures $500M from ATW Partners for Solana Expansion, Interest Paid in SOL

Sol Strategies Inc., led by CEO Leah Wald, has secured a $500 million convertible note facility from ATW Partners to expand its holdings in Solana (SOL). This first-of-its-kind structure in the Solana ecosystem is designed to exclusively fund the purchase of SOL tokens, which will be staked on validators operated by Sol Strategies. Interest on the notes will be paid in SOL, up to 85% of the staking yield generated.

The initial tranche of the facility amounts to $20 million, with the potential for up to $480 million in subsequent drawdowns. This financing deal, facilitated by Cohen & Company Capital Markets as the placement agent with a 4% finder's fee, is the largest of its kind in the Solana ecosystem. Sol Strategies is also preparing for a potential Nasdaq uplisting as part of its broader strategy.

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