DeFi Development Corp. Secures $24 Million for Solana Expansion
DeFi Development Corp. has raised $24 million via a private investment in public equity (PIPE) deal. This funding will help the company expand its Solana accumulation strategy. The round drew interest from notable investors like Galaxy Digital, Arrington Capital, and Amber International Holding Limited.
The company will issue about 310,000 shares and 215,000 pre-funded warrants at $46 per share. The money will support general business needs,with a focus on boosting its Solana (SOL) holdings. CEO Joseph Onorati views this as a meaningful step. He aims to make the firm a leading crypto treasury in the public market.
Key investors include Galaxy Digital and Republic digital. The funds will help DeFi Development Corp. grow its Solana reserves. Onorati said the raise is a turning point. It will allow them to increase their SOL position quickly. They also plan to keep delivering SOL growth to shareholders.
As of May 1, the company owns 317,273 SOL, worth $46.2 million with staking rewards. they plan to hold and stake their SOL for the long term. This move shows their commitment to the Solana ecosystem.
Janover’s stock has soared over 1,300% this year, thanks to its Solana strategy.
The securities are privately placed, exempt from SEC registration. DeFi development Corp. will file a resale registration statement. The deal is subject to standard closing conditions.
