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NASDAQ Listing Moves Forward as SOL Strategies Board Approves Stock Consolidation
Newsfileยท 2025-07-23 12:30
Core Viewpoint - SOL Strategies Inc. is moving forward with a stock consolidation to meet NASDAQ listing requirements, which is expected to enhance its visibility in U.S. capital markets and attract institutional investors interested in the Solana blockchain ecosystem [1][3]. Group 1: Stock Consolidation Details - The Board of SOL Strategies has approved a consolidation of its common shares on a basis of one new share for every eight existing shares [1]. - The consolidation was previously approved by shareholders at the Annual General Meeting on June 19, 2025, and is subject to approval from the Canadian Securities Exchange [1]. - The anticipated effective date for the consolidation is around August 5, 2025 [1]. Group 2: Impact on Shareholders - Shareholders' percentage ownership and voting power will remain unchanged post-consolidation, with minor adjustments for fractional shares [1]. - No fractional shares will be issued; instead, they will be rounded down to the nearest whole share, with cash provided for any fractional amounts [2]. Group 3: Company Strategy and Future Plans - The CEO of SOL Strategies emphasized the commitment to meeting NASDAQ's listing standards and the potential for expanding access to institutional investors [3]. - The company aims to enhance its visibility in U.S. capital markets and continue building the institutional backbone of the Solana ecosystem [3]. - The company's name and stock symbol will remain unchanged after the consolidation [2]. Group 4: Company Overview - SOL Strategies Inc. is a Canadian investment company focused on the Solana blockchain ecosystem, providing strategic investments and infrastructure solutions for decentralized applications [4].