SOL Strategies Sells 65,001 SOL to Retire Debt and Restructures Related-Party Credit Facility

SOL Strategies (CSE: HODL / Nasdaq: STKE) announced on June 8 that it sold 65,001 SOL at an average price of CAD $87.88 per token, generating approximately C$5.75 million to retire outstanding debt. The Toronto-based company separately disclosed a restructuring of a related-party credit facility held by former board chairman Antanas Guoga, converting half the outstanding balance into equity and repaying the remainder through two near-term cash payments.

The equity conversion will result in the issuance of more than 2.3 million common shares at a predetermined price, according to Globe and Mail reporting. CEO Michael Hubbard said the two moves are linked in intent: "Today's announcement reflects a decision to reduce debt and further clean up our balance sheet to assist us to fully focus on the operating businesses."

Balance Sheet Context After Rapid M&A

The debt retirement comes roughly one week after SOL Strategies closed its $18 million acquisition of HoudiniSwap, a cross-chain swap aggregator that processed USD $2.7 billion in cumulative swap volume and generated approximately USD $13 million in 2025 revenue. That deal was financed through DeFi protocols on Solana rather than through SOL treasury sales, with the June 8 SOL sale directed at legacy debt rather than acquisition financing.

SOL Strategies reported holding 521,174 SOL as of June 1, including liquid staked positions, valued at approximately CAD $57.6 million at a company-stated reference price of CAD $110.58 per token. The 65,001 tokens sold represent roughly 11% of that position by value at the reference date, based on company-reported figures.

Compass previously covered SOL Strategies' appointment of a Bitcoin Foundation co-founder as chairman and the company's staking position surpassing 3.6 million SOL.

Antanas Guoga Credit Facility: Related-Party Restructuring Terms

The Guoga restructuring adds a governance dimension to the announcement. Guoga is identified as a former board chairman and major shareholder. Converting half the facility to equity at a predetermined share price rather than repaying it entirely in cash means the company conserves liquidity while Guoga receives additional common shares, a structure that requires disclosure under related-party transaction rules.

SOL Strategies did not disclose the total outstanding balance of the facility in its press release, so the cash component of the repayment cannot be independently calculated from public filings.