PANews reported on October 21st that, according to CoinDesk , Pantera-backed Solana Company ( HSDT, formerly Helius ), the SOL digital asset treasury, announced it would allow investors in its $ 500 million PIPE round to resell shares early, claiming it would " rip the band-aid . " The company's private placement in September was priced at $ 6.881 per share. Its current share price has fallen to approximately $ 6.50 , a cumulative drop of approximately 60% over the past three days, including a further 17% drop on Monday. The company stated that the early unlocking will clear out " weak hands " and strengthen its long-term shareholder base. The share prices of several digital asset treasuries have come under pressure since the PIPEs took effect, raising questions about the sustainability of this model.
Solana Company opens PIPE investor sales early, sending its stock price plummeting 60%
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