Solana Company stock price fell 60% on the 3rd, breaking below the PIPE pricing level.

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. In the past few days, the company's stock price has fallen by 60%, dropping 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 encryption assets, but as stock prices have plunged during the unlocking period, this financing model is facing immense pressure. Solana Company (HSDT), formerly known as Helius Medical Technologies, has received support from Pantera Capital. The company stated that it is unlocking its $500 million PIPE round shares early because its stock price has fallen below the initial bid price. These shares were initially sold in a private sale at a price of $6.881 per share in September, and the company has now announced that these shares will qualify for early sale.