Sol Strategies, a Canadian public company focused on the Solana blockchain, has filed a preliminary base shelf prospectus to raise up to $1 billion. The filing, made with securities regulators across all Canadian provinces and territories, positions the company to offer a range of financial instruments—including common shares, debt securities, and warrants—over the next 25 months.
While the company has no immediate plans to issue securities, the prospectus allows Sol Strategies to access capital quickly when needed. CEO Leah Wald said the move aligns with the firm’s objective of identifying and acting on emerging opportunities in the Solana ecosystem.
Sol Strategies rebranded from Cypherpunk Holdings in 2023 to shift its core focus toward Solana. Since the pivot, the company’s share price has increased more than 2,000%, trading at $2.27 as of May 29.
In April, the firm announced a $500 million convertible note facility secured in partnership with ATW Partners. Sol Strategies used the first $20 million tranche to acquire 122,524 SOL tokens as part of its ongoing accumulation and staking efforts.
Traded under the ticker HODL on the Canadian Securities Exchange, the company now prioritizes validator operations, Solana-based infrastructure, and institutional staking services.
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Institutional Trust Strengthened With SOC and ISO Certifications
On May 28, Sol Strategies announced it had completed several security and compliance audits. These included SOC 2 Type 1 and SOC 1 Type 1 reports, along with ISO 27001 certification. These evaluations are key benchmarks for assessing the company’s information security and internal control systems.
SOC 2 Type 1 evaluates data security, availability, and confidentiality at a specific point in time. SOC 1 Type 1 focuses on internal controls relevant to financial reporting. ISO 27001 is an international standard for information security management systems.
Wald said the certifications aim to strengthen institutional trust:
By achieving SOC 2 Type 1 and SOC 1 Type 1, alongside our ISO 27001 certification, we’ve demonstrated that institutional clients can trust Sol Strategies with their Solana staking needs.
DeFi Dev Adopts Liquid Staked SOL
Moreover, the filing comes amid broader developments in the Solana ecosystem. On May 28, DeFi Development Corp. (DeFi Dev), a treasury management firm, announced it would integrate liquid-staked Solana (dfdvSOL) into its treasury operations.
Liquid staking allows tokenholders to earn staking rewards while retaining liquidity through tradable tokens. DeFi Dev recently added 88,164 SOL to its treasury—valued at $11.5 million at the time. It now plans to use dfdvSOL to increase stake contributions to Solana validators and improve treasury performance.
Notably, as of May 29, Solana remains the sixth-largest cryptocurrency by market capitalization, with a valuation near $89.8 billion. The token is trading at $170, 1.2% down on the day.
