Sol strategies completes initial $20 million closing of usd $500 million convertible note facility

Capital to be exclusively allocated to sol purchases and validator growth toronto, ontario--(newsfile corp. - may 1, 2025) - sol strategies inc. (cse: hodl) (otcqx: cyfrf) (formerly, cypherpunk holdings inc, "sol strategies" or the "company"), a publicly traded canadian company dedicated to investing in and providing infrastructure for the solana blockchain ecosystem, today announced the closing of the initial usd $20 million closing of its up to usd $500 million convertible note facility (the "facility"), as previously disclosed in the company's april 23, 2025 news release, and receipt of an initial usd $20 million tranche of proceeds. the initial usd $20 million of proceeds represent the first portion of the up to usd $500 million facility with atw partners, with proceeds being deployed to purchase sol tokens to be staked on the company's validators.
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