Solana Company issued approximately 3.08 million shares to institutional investors through a private placement.

CoinFeed reported on April 27 that, according to The Wall Street Journal, Solana Company (NASDAQ: HSDT) announced it has signed a registered direct offering agreement with global institutional investors to issue approximately 3,076,922 Class A common shares at a price of $2.60 per share to expand their holdings of Solana (SOL) digital assets. The company has also entered into a repurchase option agreement with the purchasers, allowing investors to request the company to repurchase all or part of the purchased shares at the purchase price plus an annualized internal rate of return of 7.0% under certain future circumstances.