May 01, 2025

ATW Partners provides up to US$500 million convertible note facility to SOL Strategies Inc.

Goodmans LLP acted for ATW Partners in connection with a convertible note facility pursuant to which ATW will provide funding of up to US$500 million to SOL Strategies Inc. (formerly, Cypherpunk Holdings Inc).

This facility marks a first-of-its-kind in digital asset financing: capital is exclusively earmarked for purchasing SOL tokens, to be staked on validators operated directly by SOL Strategies, with yield shared between the parties. The first tranche of US$20 million was completed in May, with additional capacity of up to US$480 million available in subsequent drawdowns, subject to certain conditions.

SOL Strategies is a publicly traded Canadian investment company dedicated to investing in and providing infrastructure for the Solana blockchain ecosystem.

ATW Partners is a New York-based investment manager of a family of private equity funds that invests in innovative companies across both public and private markets.

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ATW Partners provides up to US$500 million convertible note facility to SOL Strategies Inc.

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