Solana Company Allows Early Sale of PIPE Shares Amid Stock Decline

According to BlockBeats, Solana Company (HSDT) has announced that investors participating in its $500 million PIPE financing round will be allowed to sell their shares earlier than initially planned. This decision comes after the company's stock price plummeted by 60% in recent days, falling below the PIPE pricing level. Recently, several newly established digital asset treasury companies have utilized the PIPE financing model to acquire cryptocurrency assets. However, this approach is under significant pressure as stock prices have sharply declined during the lock-up period. Solana Company, 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 due to the stock price dropping below the original purchase price. These shares were initially privately sold in September at a price of $6.881 per share, and the company has now announced that these shares will be eligible for early sale.