SonicStrategy (CSE: SPTZ) has announced a $40 million investment from Sonic Labs, equivalent to approximately CAD 55 million. The funds will be allocated towards treasury building, node operation validation, blockchain investments, and working capital. The financing is structured as convertible debt denominated in Sonic tokens (S). If SonicStrategy successfully lists on Nasdaq and meets its issuance targets, the debt can be converted into common shares at $4.50 per share. The tokens provided by Sonic Labs will be locked for four years.
SonicStrategy Secures $40 Million Investment from Sonic Labs
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