SOL Strategies bought 88.433 SOL after raising over 20 million USD

SOL Strategies Inc – the first listed company to combine a large-scale Solana reserve fund with a validator business model to generate revenue – announced that it has purchased 88,433 SOL using funds from the LIFE fundraising round worth 30 million CAD (21.9 million USD), at an average price of 193.93 USD/SOL.

The purchase includes 79,000 SOL locked, purchased from the Solana Foundation at a 15% discount, along with a portion of SOL traded on the open market. The locked tokens will be fully unlocked after 12 months and will be staked immediately to the company's validators.

Interim CEO Michael Hubbard stated that the deployment of this capital demonstrates a commitment to expanding the Solana fund at an attractive valuation, while taking advantage of staking and discounts to realize the company's DAT++ strategy.

SOL-2.21%
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