Solana Company shares plummeted 60% in three days, falling below the PIPE pricing level

BlockBeats News, on October 21, digital asset treasury company Solana Company (HSDT) announced that it will allow investors participating in its $500 million PIPE financing round to sell their shares ahead of schedule. In the past few days, the stock price of a certain exchange has plummeted by 60%, falling below the PIPE pricing level.

Recently, several newly established Digital Asset Treasury (DAT) companies have raised funds through the PIPE model to purchase crypto assets. However, as the stock price of a certain exchange has plunged during the lock-up period, this financing model is now facing tremendous pressure.

Solana Company (HSDT), formerly known as Helius Medical Technologies and backed by Pantera Capital, stated that it is unlocking its $500 million PIPE round shares ahead of schedule because its stock price has fallen below the initial purchase price. These shares were originally privately sold in September at a price of $6.881 per share, and now the company has announced that these shares will be eligible for sale ahead of schedule.