SOL Strategies Prepares to Raise $1B by Leveraging Capital Markets

SOL Strategies has accumulated more than 389k Solana coins through leveraging capital markets in the recent past.

A Vancouver-based firm, SOL Strategies Inc. (CSE: HODL), announced that it filed a preliminary short-form base shelf prospectus with the securities regulators in Canada to issue up to $1 billion in securities over the next 25 months.

The company intends to either tap into the common shares, warrants, subscription receipts, units, debt securities, or a combination to raise the funds. Through leveraging the capital markets, SOL Strategies plans to invest more in the Solana (SOL) network ahead.

“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. This strategic move enhances our ability to act decisively when compelling investment opportunities present themselves,” SOL Strategies CEO, Leah Wald, stated.

Earlier this year, there were reports that SOL Strategies is planning to invest more in the Solana network. In addition, the company is aiming to expand its digital asset portfolio.

Earlier reports from Coinpedia noted that SOL Strategies has been busy strengthening its balance sheet through Solana (SOL) acquisitions. As of August 7, the company's holdings amounted to approximately 389,675 SOL coins. A substantial portion of these coins were acquired in the year-to-date period.

As Bitcoin price continues to tease a rally towards a new all-time high (ATH) in the near future, SOL price has attracted more whale investors and FOMO traders. Moreover, the notable adoption of the Solana-based memecoins in the recent past has helped increase the overall SOL utility.

From a technical analysis standpoint, the SOL price is well positioned for a rally beyond $200 in the coming days following a notable bullish momentum in the past two months.