MemeStrategy (HKG:2440) said it sold over-the-counter Solana put options to QCP Trading, according to a Hong Kong bourse filing Wednesday.

Shares of the data transmission and processing service provider for IOT applications were down 3% in Thursday morning trading.

The put options give QCP the right to sell up to 43,500 units of Solana to MemeStrategy at predetermined strike prices on the expiration date of Jan. 30.

In return, MemeStrategy has received option premiums denominated and settled in Solana in the amount of 317 units of the blockchain platform's native cryptocurrency. The units are valued at HK$358,000, MemeStrategy said.

The maximum amount payable by MemeStrategy if all put options are exercised are around HK$44.9 million.