FAIRFIELD, Conn.--(BUSINESS WIRE)--Osprey Solana Trust (OTCQX: OSOL), a Delaware statutory trust (“Osprey” or the “Trust”), announced it will execute a 15:1 forward split of the issued and outstanding shares. The total fair value of the Trust’s net assets will not be affected as a result of this split.
“Given the 2,053% increase in the price of OSOL over the last year due to Solana’s recent market appreciation as well as increased investor interest, we are splitting the units on a 15 to 1 basis to make the price more accessible for our investors. We continue to believe that Solana has distinguished itself as a leading blockchain and is well poised for future growth,” said Greg King, CFA, Founder and CEO of Osprey Funds.
After the close of the markets on June 4th, 2024, the Trust will effect a split of its issued and outstanding shares as follows:
Every share of the Trust will be exchanged for 15 shares. Accordingly, the total number of the issued and outstanding shares for the Trust will increase by 15 times. In addition, the next day’s opening per share net asset value (“NAV”) and the opening market price per share should be approximately fifteen times lower for the Trust. Shares of the Trust will begin trading on the OTC Markets on a split-adjusted basis June 5th, 2024. The total opening fair value of the Trust’s net assets, and thus a shareholder’s investment value, will not be affected by the split.
Period |
# of Shares Owned |
Hypothetical Market Price |
Total Market Value |
Pre-Split |
10 |
$210 |
$2,100 |
Post-Split |
150 |
$14 |
$2,100 |
About Osprey Funds, LLC
Osprey Funds, LLC (Osprey) offers common sense solutions to digital asset investing. Based in Fairfield, Connecticut, Osprey is dedicated to building better investment products that offer secure, transparent, and cost-effective access to digital assets. Learn more by visiting https://ospreyfunds.io/.