On October 21, the digital asset treasury company Solana Company (HSDT) announced that it would allow investors participating in its $500 million PIPE financing round to sell their shares early. Over the past few days, the company's stock price has plummeted by 60%, falling below the PIPE pricing level.

Recently, several newly established digital asset treasury companies (Digital Asset Treasury, abbreviated as DAT) have raised funds through the PIPE model to purchase cryptocurrency assets, but as stock prices have collapsed during the unlocking period, this financing model is facing tremendous pressure.

Solana Company (HSDT), which was formerly Helius Medical Technologies, has received support from Pantera Capital. The company stated that it would unlock its $500 million PIPE round shares early because its stock price has fallen below the initial purchase price. These shares were initially sold privately in September at a price of $6.881 per share, and the company has now announced that these shares will be eligible for sale early. $SOL