DeFi Development Corp. Announces Closing of $24 Million Private Placement

Core Viewpoint - DeFi Development Corp. has successfully closed a private investment in public equity (PIPE) financing, raising approximately $24 million for general corporate purposes, including investment in Solana (SOL) [1][2]. Group 1: Financing Details - The company sold 315,838 shares of common stock at a price of $46.00 per share and pre-funded warrants for an aggregate of 207,679 shares at $45.99 per underlying share [2]. - The gross proceeds from the PIPE financing amounted to around $24 million before fees and expenses [1]. Group 2: Use of Proceeds - The net proceeds from the PIPE financing are intended for general corporate purposes, specifically to continue accumulating Solana (SOL) [2][5]. Group 3: Securities Information - The securities were sold in a private placement under Section 4(a)(2) of the Securities Act of 1933 and are not registered under the Act, meaning they cannot be resold without registration or an exemption [3]. - A registration rights agreement has been established, obligating the company to file a registration statement with the SEC for the resale of the common stock [3]. Group 4: Company Overview - DeFi Development Corp. has adopted a treasury policy focusing on Solana (SOL) as its principal holding, aiming to provide investors with exposure to the Solana ecosystem [5].