DeFi Development Corp Raises $112.5 Million To Bolster Solana Treasury
The post DeFi Development Corp Raises $112.5 Million To Bolster Solana Treasury appeared on BitcoinEthereumNews.com.
DeFi Development Corp (DFDV), a Nasdaq-listed firm, has announced the issuance of $112.5 million in convertible notes to expand its Solana-focused cryptocurrency treasury strategy. This capital raising effort comes as part of the company’s ongoing initiative to increase its holdings in Solana’s native token, SOL, while also exploring additional strategic opportunities in the digital asset space. DeFi Development Corp Move to Boost Solana Strategy Initially set at $100 million, DeFi Development Corp has decided to upsize its offering to $112.5 million. The offering will consist of convertible notes, a type of debt that can be converted into shares of the company in the future. These notes will mature in 2030, with an annual interest rate of 5.5%, payable semi-annually. Investors have the right to convert their notes into equity at a price of $23.11 per share, representing a 10% premium on the closing price of the stock on July 1, 2025. The company is also offering investors the option to purchase an additional $25 million in notes with the deal expected to close by July 7, 2025. This move come amid launch of the first U.S.-listed Solana Exchange-Traded Fund (ETF) REX-Osprey Solana Staking ETF which has boosted the optimism in SOL. Focus on Solana Token Acquisitions DeFi Development Corp has centered its strategy on acquiring and holding Solana tokens (SOL). As of May 2025, the firm had accumulated over 600,000 SOL. A portion of the $112.5 million raised from the convertible note offering, around $75 million, to purchase more SOL tokens. In addition to expanding its holdings, the firm is utilizing innovative financial structures, including a prepaid forward stock purchase transaction, to manage risk for investors involved in the offering. The prepaid forward mechanism will enable investors to hedge their positions in the notes offering, allowing them to purchase or…
Filed under: News - @ July 3, 2025 1:17 am