Pantera-backed Solana Company grants early resale rights to its $500 million PIPE investors amid a 60% three-day stock plunge, aiming to stabilize long-term investor confidence.
Solana Company (HSDT), formerly Helius and backed by Pantera Capital, announced early resale rights for investors from its $500 million PIPE round. Shares, originally issued at $6.881 in September, now trade around $6.50 after a 60% three-day fall and an additional 17% drop on Monday. The company stated the early unlock is intended to eliminate short-term holders and reinforce long-term shareholder support. The move follows pressure across PIPE-based digital asset treasury stocks, with market participants questioning the sustainability of such financing models.