Canadian investment fund SOL Global Investments is raising $3.6 million to purchase SOL

2024-11-20 18:05:35

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ChainCatcher news, according to official sources, Canadian investment fund SOL Global Investments announced that it has entered into an agreement with Canaccord Genuity Corp. and Clarus Securities Inc. as co-lead underwriters and co-book runners, representing a group of underwriters.

Under the agreement, the underwriters will offer up to 18 million shares of the company at an issue price of $0.20 per share on a "best efforts" basis; this issuance will bring the company a maximum total fundraising amount of $3.6 million. The company plans to use the net proceeds from the issuance to purchase Solana tokens through cryptocurrency exchanges at current market prices.

At the same time, the company clarified that the Solana tokens acquired from the net proceeds of the issuance will not be used as collateral for any current or future secured debt of the company.

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