As filed with the Securities and Exchange Commission on October 14, 2025 Registration No. 333-290297 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 DEFI DEVELOPMENT CORP. (Exact name of registrant as specified in its charter) Delaware 7389 83-2676794 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification ...

Core Insights - Predictive Oncology Inc. has appointed Shawn Matthews, Thomas McLaughlin, and Sara Turken to its leadership team and Board of Directors to support its new digital asset treasury strategy focused on the Aethir (ATH) token [1][2][3] Leadership Appointments - Shawn Matthews, CEO of DNA Holdings Venture, Inc. and former CEO of Cantor Fitzgerald, joins the Board of Directors [2][3] - Thomas McLaughlin, CIO of DNA Holdings Venture, Inc., is appointed as Chief Investment Officer [2][4] - Sara Turken, JD, a biopharmaceutical veteran, is appointed as General Counsel [2][5] Strategic Focus - The company is leveraging its AI-driven drug discovery capabilities to implement an innovative digital treasury asset strategy, which aims to address its AI requirements and capitalize on the growing global need for AI infrastructure [3][8] - Predictive Oncology operates a digital asset treasury focused on the Aethir (ATH) token, creating the world's first Strategic Compute Reserve [8] Company Background - Predictive Oncology utilizes AI and machine learning to expedite early drug discovery, with its platform, PEDAL, achieving 92% accuracy in predicting tumor responses to drug compounds [6][7] - The company has a biobank of over 150,000 assay-capable heterogeneous human tumor samples, providing extensive AI-based drug discovery solutions [7]

Group 1 - ENDRA Life Sciences Inc. announced an aggregate of $4.9 million in commitments for a private placement led by institutional and cryptocurrency investors [1] - The proceeds from the offering will be utilized to launch a diagnostic tool for monitoring metabolic dysfunction associated liver disease (MASLD) and metabolic dysfunction associated steatohepatitis (MASH) [1]

Core Insights - Sharps Technology, Inc. has announced a strategic collaboration with Coinbase to expand its Solana digital asset treasury strategy, having acquired over 2 million SOL valued at over $400 million [1][2]. Group 1: Company Strategy - The collaboration with Coinbase aims to leverage its digital asset treasury strategy to advance decentralized finance [2]. - STSS plans to utilize Coinbase Prime's custody infrastructure and OTC desk products as part of this partnership [2]. - The partnership highlights STSS's commitment to supporting the global adoption of digital assets and working with secure, regulated service providers [2]. Group 2: Financial Position - STSS has acquired over 2 million SOL, currently valued at over $400 million, with SOL trading at over $210 [1]. - The company is focused on accumulating SOL, the native digital asset of the Solana blockchain, to power on-chain yield generation [6].

Core Insights - Caliber has reported substantial improvements in its balance sheet, liquidity position, and stockholders' equity due to its Digital Asset Treasury (DAT) strategy [2][3] - The company raised approximately $28.9 million in new equity, significantly enhancing its financial standing and reducing stockholders' deficit [2][3] Financial Performance - Estimated cash for Q3 2025 is projected to be between $10.0 million and $11.0 million, a significant increase from $0.6 million in Q2 2025 [2] - LINK Treasury is estimated to be between $9.0 million and $10.0 million, compared to no holdings in Q2 2025 [2] - Total new equity raised includes $13.0 million in common stock and $15.9 million in Series B preferred stock, netting $26.2 million after equity issuance costs [2] Strategic Initiatives - The DAT strategy involves disciplined, dollar-cost-averaged purchases of Chainlink ($LINK) to capture long-term appreciation and staking yield [3] - Caliber aims to create one of the largest LINK treasuries held by a public company, enhancing its balance sheet and liquidity options [4][3] - This strategy positions Caliber at the intersection of real asset infrastructure and digital asset infrastructure, providing transparent participation in the LINK ecosystem [3] Company Overview - Caliber is an alternative investment manager with over $2.9 billion in managed assets and a 16-year track record in private equity real estate investing [7] - The company became the first U.S. public real estate platform to launch a Digital Asset Treasury strategy anchored in Chainlink in 2025 [7]

Core Insights - Predictive Oncology has successfully closed two private investment in public equity transactions (PIPEs) totaling approximately $343.5 million to support its digital asset treasury strategy focused on ATH, the native utility token of the Aethir ecosystem [1][2] Investment Details - The PIPEs consist of two components: - A cash PIPE raising approximately $50.8 million through the sale of about 4.4 million shares of common stock at a price of $11.6265 per share [2] - A crypto PIPE involving pre-funded warrants to purchase up to approximately 14.9 million shares of common stock for a purchase price of $11.6165 per warrant, in exchange for approximately $292.7 million in notional value of ATH contributions [2] - The PIPEs closed on October 7, 2025, and the pre-funded warrants will be exercisable following shareholder approval [2][4] Strategic Intent - The company aims to utilize the in-kind contribution of ATH to fund its digital asset treasury strategy and acquire ATH in the open market, alongside working capital and general corporate purposes [4] - The investment aligns with the company's computational needs and capital requirements as it seeks to lead in AI-driven drug discovery [5] Company Background - Predictive Oncology leverages AI and machine learning for drug discovery, with its platform, PEDAL, achieving 92% accuracy in predicting tumor responses to drug compounds [9] - The company has a biobank of over 150,000 tumor samples, enhancing its AI-based drug discovery capabilities [9] Aethir Overview - Aethir is a decentralized physical infrastructure network providing GPU resources for AI computation, gaming, and cloud workloads, aiming to democratize access to AI infrastructure [7][8] - ATH serves as a utility token within the Aethir ecosystem, facilitating GPU rentals, staking, and rewards [8]

Core Insights - MAIA Biotechnology has authorized the allocation of up to 90% of its liquid assets in cryptocurrencies, specifically Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) [1][2] - The company aims to diversify its investment portfolio through a new digital asset treasury strategy, focusing on high-quality cryptocurrency tokens to minimize risk while seeking strong returns [3] Group 1: Digital Asset Strategy - The Board of Directors has approved a strategy to hold a significant portion of liquid assets in cryptocurrencies, with corporate officers authorized to manage these transactions [2] - MAIA's CEO emphasized a disciplined approach to investing in cryptocurrencies, targeting only the highest-quality tokens to enhance shareholder value while maintaining adequate working capital [3] Group 2: Company Overview - MAIA Biotechnology is a clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for cancer, with its lead program being ateganosine (THIO) for treating NSCLC patients [4]

Core Insights - Leap Therapeutics Inc. is currently trading at $0.69, reflecting a 9.15% decline in pre-market trading [1] - The company has announced a private placement led by Winklevoss Capital, raising $58.88 million through the issuance of common shares and warrants [2][5] - Leap is initiating a digital asset treasury strategy with the support of Winklevoss Capital, which will also fund the development of its therapeutic programs [3] Financial Performance - Leap reported a loss of $0.40 per share in Q2, which was worse than the analyst estimate of a $0.29 loss, with zero revenue reported [6] - The company has a market capitalization of $31.86 million and a yearly trading range between $0.22 and $4.79 [6] Stock Performance - Leap's stock has increased by 163.34% over the past six months, despite a significant decline of 73.48% since the beginning of the year [7] - The stock closed at $0.76 on Monday, marking a 43.15% increase for that day [7] Strategic Developments - As part of the private placement agreement, Leap will expand its board of directors to 12 members, with Winklevoss Capital nominating two directors [5] - The private placement is expected to close on Wednesday, pending customary closing conditions [5] Clinical Developments - Leap's therapeutic program, sirexatamab, recently completed a Phase 2 trial in colorectal cancer patients, with results to be presented at the ESMO Congress 2025 [4]

Financial Data and Key Metrics Changes - Total revenue for the first half of 2025 was $18.7 million, representing a 37% increase year-on-year [4][22] - Gross profit increased by 17% to $15.1 million, with a gross margin maintained at 80% [7][22] - EBITDA was reported at $5.2 million, reflecting top-line growth and continued investment [5][21] - Net profit after tax was $4.66 million, with a net margin of 35% [7][22] - Interest income rose to $1.3 million from $0.7 million a year ago, driven by a larger loan receivable base [7][22] Business Line Data and Key Metrics Changes - The technology segment generated $9.3 million in revenue, up from $1.7 million a year ago, indicating a structural shift towards technology as a growth driver [3][18] - Consultancy revenue contributed $8.1 million, showing stability despite a return to typical activity levels after an exceptional 2024 [3][18] Market Data and Key Metrics Changes - The company is expanding into GPU-as-a-Service with the upcoming launch of the SecureGPU and GPU cloud platform [4][19] - There is consistent interest from enterprise clients in AI-integrated server and cloud platforms, with discussions moving into later stages [11][26] Company Strategy and Development Direction - The company is focused on building a portfolio of high-growth verticals across cybersecurity, AI, fintech, and technology development [3][18] - A planned IPO of VCCG, the capital market advisory arm, is targeted for the first quarter of 2026, reflecting strategic flexibility [4][19] Management's Comments on Operating Environment and Future Outlook - Management emphasized a disciplined approach to capital allocation, prioritizing AI infrastructure and related services [9][24] - The company is focused on execution and scaling, with a clear strategy to convert initiatives into sustained earnings growth [5][21] Other Important Information - The company is in advanced discussions regarding a digital asset treasury strategy to complement its ecosystem [4][19] - The first half results reflect a scalable, margin-creating model supported by diversified revenue streams [8][23] Q&A Session Summary Question: How is capital allocation prioritized across AI, cybersecurity, fintech, and data analytics? - The company prioritizes AI infrastructure and related services, followed by cybersecurity, while being selective in fintech and data analytics investments [9][24] Question: Is the moderation in consultancy revenue a structural shift or cyclical effect? - It is both; consultancy had a strong 2024, and there is a structural shift with technology becoming a larger part of the business [10][25] Question: How is the current pipeline shaping for the second half of the year, particularly in technology? - The pipeline looks steady, with consistent interest in AI-integrated server and cloud platforms, and healthy consultancy mandates [11][26][28] Question: What key execution risks are being monitored for the remainder of 2025? - Key risks include delivery capacity, timing of consultancy deal closures, capital deployment discipline, and regulatory developments [13][29]

Core Insights - Leap Therapeutics announced a private investment in public equity (PIPE) offering amounting to $58,888,888, led by Winklevoss Capital, to initiate a digital asset treasury strategy [1][2] - The offering includes the purchase of 95,849,353 shares of common stock and warrants for an additional 71,887,008 shares at an exercise price of $0.5335 per share [1][2] - The company plans to utilize part of the capital for the development of its therapeutic programs, including FL-501 and sirexatamab, which recently completed a Phase 2 trial for colorectal cancer [2] Financial Details - The aggregate exercise price per Unit in the PIPE offering is set at $0.61439 [1] - The closing of the private placement is expected around October 8, 2025, pending customary closing conditions [3] Strategic Developments - Winklevoss Capital will provide both capital and strategic support, and will have the right to nominate two members to Leap's Board of Directors, including a chairperson [2][3] - Leap has selected Parcrest as the placement agent, with Morgan, Lewis & Bockius LLP and Cooley LLP serving as legal advisors [4] Regulatory Compliance - The securities are being offered in a private placement under exemptions from the registration requirements of the Securities Act of 1933 [5] - A registration rights agreement has been established to allow for the resale of the purchased shares [5]