Welcome to our dedicated page for Sol Global Investments news (Ticker: SOLCF), a resource for investors and traders seeking the latest updates and insights on Sol Global Investments stock.
SOL Global Investments Corp. (SOLCF) generates frequent news as it refines its role as an institutional investment company in the cryptocurrency and blockchain ecosystem. Company announcements emphasize its focus on blockchain tokens, particularly Solana, and on early-stage ventures built on blockchain infrastructure.
News items for SOL Global often cover its strategic positioning in the Solana ecosystem, including updates on token acquisitions and portfolio composition. The company has reported a reorganization in which it transferred non-Solana assets and certain liabilities into a separate vehicle, leaving Solana assets and an equity interest in that vehicle as its primary holdings. Releases also describe financing activities, such as private placements of convertible debentures and warrants, and transactions involving the issuance of common shares to settle indebtedness.
Corporate governance and leadership developments are another recurring theme. SOL Global has announced changes to its board of directors and executive team in connection with its strategic shift toward digital asset and blockchain sectors. These updates are presented as part of aligning its governance with a focus on cryptocurrency, decentralized finance, and blockchain-related investments.
In addition, the company issues news about its portfolio companies and related digital asset initiatives. For example, it has provided updates on McQueen Labs Inc. (MCQ Markets), a portfolio company that operates a platform for exposure to rare cars and is pursuing a digital asset roadmap. Investors following SOLCF news can review these releases to track how the company describes its evolving strategy, capital structure decisions, and involvement in blockchain-focused ventures.
SOL Global Investments has reduced its principal credit facility from
SOL Global Investments announced the completion of its substantial issuer bid, purchasing 7,407,389 Common Shares at
SOL Global Investments Corp. (CNSX: SOL, OTCQ: SOLCF) announced a repayment of $2.5 million towards its $50 million credit facility, decreasing the principal to $45 million. This credit facility was initially secured to fund a non-convertible debenture acquisition. The Company plans to continue making similar repayments as it realizes profits from existing investments. SOL Global commits to providing updates on material changes related to the credit facility, including future payments.
SOL Global Investments Corp. announced the preliminary results of its substantial issuer bid, which closed on November 26, 2021. The company aimed to purchase up to $30 million worth of its common shares through a Dutch auction. Approximately 11.9 million shares were validly tendered, and SOL Global expects to buy around 7.4 million shares at a price of $4.05 each. Due to oversubscription, tendered shares will be prorated. The tax implications for Canadian shareholders were also addressed, estimating a paid-up capital of $2.114 per share.
SOL Global Investments Corp. announced that the Ontario Securities Commission granted an exemptive relief order allowing the company to extend its current substantial issuer bid without taking up all deposited common shares first. Launched on October 20, 2021, the offer allows shareholders to tender shares for a maximum purchase price of $30 million, with prices set between $4.05 and $4.25 per share. The offer is open until 11:59 p.m. Toronto time on November 26, 2021. SOL Global may extend the offer based on tendered shares and relevant circumstances.
SOL Global Investments Corp. has announced the commencement of principal repayments on its
The House of Lithium has increased its stake in Reby Inc. to 16.67% on a fully diluted basis with a $5 million convertible note investment. The note, issued on October 14, 2021, carries a 1% annual interest rate and converts into Reby's preferred stock upon equity financing. Reby, led by the young entrepreneur Pep Gómez, is profitable and focused on the European micro-mobility market, which is expected to grow significantly. The investment strengthens the partnership between the two organizations, highlighting a shared vision for electric vehicle development.
House of Lithium, associated with
Through a Portfolio Sale, SOL divested its electric vehicle assets valued at approximately $79.7 million to House of Lithium, receiving 39,870,943 Class B shares in return. The company has ongoing plans to further enhance its market position and pursue a public listing.
SOL Global Investments Corp. reported a net income of $210.4 million for the nine months ending August 31, 2021, up from $47.9 million in the same period a year prior, a change of $160.7 million. However, the company faced a loss of $62.4 million in Q3 of 2021 due to a $68.5 million settlement cost. Total gains from investments reached $347.4 million for the nine-month period, compared to $90.3 million the previous year. Additionally, the net asset value per share increased to $6.44, a 131% rise year-over-year.
SOL Global Investments Corp. (CSE: SOL, OTCQ: SOLCF) announced the launch of a substantial issuer bid to purchase up to $30 million of its common shares. The offer will be executed via a Dutch auction, with shareholders allowed to specify tender prices between $4.05 and $4.25 per share. If the total purchase price exceeds the available amount, shares will be bought on a pro rata basis, excluding odd lot holders. The offer is open until November 26, 2021, and detailed documents have been mailed to shareholders.