Defi Development Corporation files to offer $1 billion in securities to boost its Solana holdings

Source Fxstreet
  • Defi Development Corporation filed a registration statement with the SEC to offer up to $1 billion in securities.
  • The company also seeks to register up to 1,244,471 shares of common stock for potential resale by its existing stockholders.
  • The company intends to use part of the proceeds from the sales to boost its Solana acquisition strategy.

Defi Development Corporation (formerly Janover) filed a registration statement with the Securities & Exchange Commission (SEC) on Friday, signaling its intent to offer and sell a wide range of securities, including common and preferred stock, debt instruments and warrants for the purchase of equity or debt, with a cap value of $1 billion. The company intends to use part of the proceeds to acquire more Solana (SOL) tokens as part of its treasury acquisition strategy.

Defi Development Corporation states plan to offer up to $1 billion in securities

Defi Development Corp has filed paperwork with the SEC to offer and sell different types of securities. The company plans to issue instruments like common stock, preferred stock, different types of debt and warrants with a fixed cap of $1 billion.

The filing also covers the possible resale of up to 1,244,471 shares of common stock by certain existing shareholders. These shares come from a previous financing deal where the company issued $41.95 million in convertible notes.

The proceeds from the sales are intended for general corporate purposes, including the acquisition of Solana.

"We intend to use the net proceeds from the sale of any securities offered under this prospectus primarily for general corporate purposes, including the acquisition of Solana, unless otherwise indicated in the applicable prospectus supplement," the company stated in the filing.

Defi Development Corp stated that it does not have a fixed amount of net proceeds to be used specifically for each purpose. It also did not mention the timeline for offering the instruments, as it is still subject to regulatory approval.

The company's sale of securities to acquire more Solana stems from its new treasury strategy, which now includes SOL. It currently holds approximately $48.2 million worth of SOL, including staking rewards.

The company adopted the new treasury strategy in April, following a change in its board of directors, with former Kraken executives replacing its CEO and CTO.

Defi Development Corp rebranded from Janover Incorporated on April 22 in line with its new crypto focus. The company also plans to change its ticker on the Nasdaq from JNVR to DFDV later.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Silver Price dives below $50.00 as the Dollar rallies Market expectations that the US and China will de-escalate trade tensions are boosting the US Dollar’s recovery and hurting precious metals.
Author  FXStreet
12 hours ago
Market expectations that the US and China will de-escalate trade tensions are boosting the US Dollar’s recovery and hurting precious metals.
placeholder
Japan's next finance minister could unsettle yen bearsThe dollar briefly fell to around 150.50 yen on a local media report that Katayama will get the job, before recouped losses to climb above 151 yen.
Author  FXStreet
12 hours ago
The dollar briefly fell to around 150.50 yen on a local media report that Katayama will get the job, before recouped losses to climb above 151 yen.
placeholder
Bitcoin Price Forecast: BTC falls below $108,000 amid economic uncertainty, ETF outflowsBitcoin (BTC) price trades below $108,000 at the time on Tuesday, after facing rejection from a previously broken trendline, signaling renewed selling pressure.
Author  FXStreet
13 hours ago
Bitcoin (BTC) price trades below $108,000 at the time on Tuesday, after facing rejection from a previously broken trendline, signaling renewed selling pressure.
placeholder
Forex Today: Markets remain focused on US-China, government shutdown newsEarly Tuesday, the USD Index clings to small gains above 98.50 and US stock index futures lose about 0.1% on the day.
Author  FXStreet
14 hours ago
Early Tuesday, the USD Index clings to small gains above 98.50 and US stock index futures lose about 0.1% on the day.
placeholder
BitMine and Strategy Capitalize on Market Weakness to Expand Crypto PortfoliosAfter the October crash shook global markets, crypto assets continued their volatile run, with Bitcoin (BTC) and Ethereum (ETH) still below their pre-crash levels.
Author  Beincrypto
14 hours ago
After the October crash shook global markets, crypto assets continued their volatile run, with Bitcoin (BTC) and Ethereum (ETH) still below their pre-crash levels.
Related Instrument
goTop
quote