AcquisitionsJun 2, 2026, 08:37 AM
SOL Strategies Closes Houdini Swap Acquisition for $18M
AI Summary
SOL Strategies Inc. announced the closing of its previously disclosed acquisition of HoudiniSwap LLC, a non-custodial, privacy-focused cross-chain swap aggregator. The total purchase price was $18 million, paid through a combination of cash and common shares, with additional deferred payments and an earn-out. This acquisition adds a high-volume consumer-facing product with approximately $2.5 billion in cumulative swap volume and over $13 million in revenue in 2025, enhancing SOL Strategies' Solana infrastructure platform with transactional revenue.
Key Highlights
- SOL Strategies closed the acquisition of HoudiniSwap for a total purchase price of $18 million.
- Initial consideration included $7 million in cash and $4 million in common shares (2,812,301 shares issued).
- An additional $5.75 million in cash is due on December 1, 2026, plus a $1.25 million indemnity holdback.
- The acquisition includes a two-year earn-out of up to $10 million, tied to Adjusted EBITDA performance.
- HoudiniSwap has processed approximately $2.5 billion in cumulative swap volume.
- HoudiniSwap generated over $13 million in revenue in 2025 across 32 exchange partner integrations.
- A.G.P./Alliance Global Partners received $500,000 in fees and 200,000 warrants.
- Canaccord Genuity Corp. received $100,000 in common share purchase warrants.
Price Impact
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