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DeFi Development Corp. Announces June 2025 Business Update
Globenewswire· 2025-07-02 20:15
Group 1 - The core focus of DeFi Development Corp. is its treasury strategy designed to accumulate and compound Solana (SOL), making it the first US public company to adopt such a strategy [1][3] - The company provides investors with direct economic exposure to SOL while actively participating in the growth of the Solana ecosystem through holding, staking, and operating validator infrastructure [3] - DeFi Development Corp. is engaged in decentralized finance (DeFi) opportunities and is exploring innovative ways to support the expanding application layer of Solana [3] Group 2 - The company serves over one million web users annually, including multifamily and commercial property owners, developers, and various lenders, applying for billions of dollars in debt financing each year [5] - Its data and software offerings are primarily provided on a subscription basis as software as a service (SaaS) [5]
Correction: DeFi Development Corp. Announces Upsized $112.5 Million of Convertible Notes
Globenewswire· 2025-07-02 13:10
Core Viewpoint - DeFi Development Corp. has announced a private offering of $112.5 million in convertible senior notes, aimed at accumulating and compounding Solana (SOL) as part of its treasury strategy [1][13]. Group 1: Transaction Details - The offering includes an option for initial purchasers to buy an additional $25 million in convertible notes within a 7-day period after the initial issuance [2]. - The expected closing date for the offering is July 7, 2025, pending customary closing conditions [2]. Group 2: Use of Proceeds - The estimated net proceeds from the offering are approximately $108.1 million, or $132.2 million if the additional notes option is fully exercised [3]. - Approximately $75.6 million of the net proceeds will be used for a prepaid forward stock purchase transaction, with the remainder allocated for general corporate purposes, including the acquisition of SOL [3]. Group 3: Convertible Notes Details - The convertible notes will have a 5.5% annual interest rate, payable semi-annually, and will mature on July 1, 2030 [4]. - The initial conversion rate is set at 43.2694 shares per $1,000 principal amount, equating to an initial conversion price of about $23.11 per share, representing a 10% premium over the closing price of $21.01 on July 1, 2025 [5]. Group 4: Redemption and Repurchase Rights - The company cannot redeem the convertible notes before July 5, 2026, but may do so thereafter under certain conditions [6]. - Holders of the convertible notes have the right to require the company to repurchase their notes upon a fundamental change at a cash price equal to 100% of the principal amount plus accrued interest [8]. Group 5: Prepaid Forward Stock Purchase Transaction - The company has entered into a prepaid forward stock purchase transaction valued at approximately $75.6 million, initially covering about 3.6 million shares of common stock [9]. - This transaction is designed to facilitate derivative transactions, allowing investors to hedge their investments in the convertible notes [10]. Group 6: Company Overview - DeFi Development Corp. focuses on accumulating Solana (SOL) as a primary asset in its treasury, providing investors with direct exposure to SOL while participating in the Solana ecosystem's growth [13]. - The company also operates its own validator infrastructure and engages in decentralized finance (DeFi) opportunities, alongside running an AI-powered platform for the commercial real estate industry [13].
DeFi Development Corp. Announces Upsized $112.5 Million of Convertible Notes
Globenewswire· 2025-07-02 12:00
Core Viewpoint - DeFi Development Corp. has announced a private offering of $112.5 million in convertible senior notes, aimed at accumulating and compounding Solana (SOL) as part of its treasury strategy [1][13]. Group 1: Transaction Details - The offering includes an option for initial purchasers to buy an additional $25 million in convertible notes within a 7-day period after the initial issuance [2]. - The offering is expected to close on July 8, 2025, pending customary closing conditions [2]. Group 2: Use of Proceeds - The estimated net proceeds from the offering will be approximately $108.1 million, or about $132.2 million if the additional notes option is fully exercised [3]. - Approximately $75.6 million of the net proceeds will be used for a prepaid forward stock purchase transaction, with the remainder allocated for general corporate purposes, including the acquisition of SOL [3]. Group 3: Convertible Notes Details - The convertible notes will have a 5.5% annual interest rate, payable semi-annually, and will mature on July 1, 2030 [4]. - The initial conversion rate is set at 43.2694 shares per $1,000 principal amount, equating to an initial conversion price of approximately $23.11 per share, representing a 10% premium over the closing price of $21.01 on July 1, 2025 [5][7]. Group 4: Prepaid Forward Stock Purchase Transaction - The company has entered into a prepaid forward stock purchase transaction valued at approximately $75.6 million, initially covering about 3.6 million shares of common stock [9]. - This transaction is designed to facilitate derivative transactions, allowing investors to hedge their investments in the convertible notes [10]. Group 5: Company Overview - DeFi Development Corp. focuses on accumulating SOL as its primary treasury asset, providing investors with direct exposure to the Solana ecosystem [13]. - The company also operates its own validator infrastructure and engages in decentralized finance (DeFi) opportunities, while offering an AI-powered platform for the commercial real estate industry [13].
DeFi Development Corp. Announces Proposed Private Offering of $100 Million of Convertible Notes
Globenewswire· 2025-07-01 20:10
Core Viewpoint - DeFi Development Corp. plans to offer $100 million in convertible senior notes due 2030, with an option for an additional $25 million, to qualified institutional buyers, aiming to enhance its treasury strategy focused on accumulating Solana (SOL) [1][2] Group 1: Offering Details - The offering of convertible senior notes is subject to market conditions and will be made under Rule 144A of the Securities Act [1] - The notes will accrue interest semi-annually starting January 1, 2026, and will mature on July 1, 2030, unless converted or repurchased earlier [3] - The initial conversion rate and other terms will be determined during pricing negotiations with initial purchasers [4] Group 2: Use of Proceeds - A portion of the net proceeds will be used to repurchase shares of the Company's common stock, while the remainder will be allocated for general corporate purposes, including acquiring SOL [2] Group 3: Prepaid Forward Transaction - The Company plans to enter a prepaid forward stock purchase transaction with an initial purchaser to facilitate derivative transactions, allowing investors to hedge their investments in the convertible notes [5][6] - This prepaid forward is expected to enable investors to establish short positions that may correspond to their investment hedges [6] Group 4: Market Impact - Activities related to the prepaid forward may influence the market price of the common stock and the convertible notes, potentially affecting conversion prices and the value received by noteholders upon conversion [8][7] Group 5: Company Overview - DeFi Development Corp. has a treasury policy that primarily allocates its reserves to SOL, providing investors with direct exposure to the cryptocurrency while participating in the Solana ecosystem [9] - The Company operates its own validator infrastructure, generating staking rewards and is engaged in decentralized finance (DeFi) opportunities [9]
DeFi Development Corp. to Host June 2025 Business Update Call
Globenewswire· 2025-06-16 20:00
Group 1 - The Company, DeFi Development Corp. (Nasdaq: DFDV), is the first US public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1][4] - The Company will publish its June 2025 Shareholder Letter and Business Update on June 25, 2025, at approximately 4:00 p.m. Eastern Time [1] - A video update featuring key management will be uploaded on June 26, 2025, addressing strategic highlights and answering pre-submitted questions from investors [2] Group 2 - DeFi Development Corp. has adopted a treasury policy where the principal holding in its treasury reserve is allocated to SOL, providing investors with direct economic exposure to SOL [4] - The Company operates its own validator infrastructure, generating staking rewards and fees from delegated stake, while also engaging in decentralized finance (DeFi) opportunities [4] - The Company serves over one million web users annually, including property owners, developers, and various lenders, applying for billions of dollars in debt financing [6]
DeFi Development Corp. to Host Twitter Spaces Explaining ELOCs, S-1s, and Capital Strategy
Globenewswire· 2025-06-12 17:00
Core Viewpoint - DeFi Development Corp. is hosting a live Twitter Spaces event to discuss its recent S-1 filings, a $5 billion Equity Line of Credit (ELOC), and its public market capital strategy [1][2]. Group 1: Company Overview - DeFi Development Corp. is the first U.S. public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1][5]. - The company provides investors with direct economic exposure to SOL while participating in the growth of the Solana ecosystem through holding, staking SOL, and operating its own validator infrastructure [5]. - DeFi Development Corp. is engaged in decentralized finance (DeFi) opportunities and is exploring innovative ways to support Solana's expanding application layer [5]. Group 2: Event Details - The live Twitter Spaces event will feature key executives including CEO Joseph Onorati, COO & CIO Parker White, CFO John Han, and Head of IR Dan Kang [2]. - The session will cover the company's approach to fundraising, validator economics, and Solana-native infrastructure, with a live Q&A segment [2]. Group 3: Financial Strategy - The company has announced a $5 billion Equity Line of Credit (ELOC) to support its mission of accumulating more SOL and growing SOL per share [1][9]. - The event will provide insights into how the ELOC compares to other financing tools and the implications of the S-1 filing for capital flexibility [9].
DeFi Development Corp. Announces $5 Billion Equity Line of Credit
Globenewswire· 2025-06-12 12:00
BOCA RATON, FL, June 12, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company” or “DeFi Dev Corp.”), the first U.S. public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced it has entered into a share purchase agreement (the “ELOC”) with RK Capital Management LLC (“RK Capital”). Under the ELOC, the Company will have the right, but not the obligation, to issue and sell up to $5 billion in shares of its common stock to RK Capital, subject ...
DeFi Dev Corp. Partners with Drift Protocol to List dfdvSOL Liquid Staking Token
Globenewswire· 2025-06-06 12:00
Core Viewpoint - DeFi Development Corp. has announced a strategic partnership with Drift Protocol to enhance the utility of its liquid staking token, dfdvSOL, within the Solana ecosystem, aiming to provide new opportunities for market participants [1][2][3]. Company Overview - DeFi Development Corp. is the first US public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1][6]. - The company operates its own validator infrastructure, generating staking rewards and fees from delegated stake, while actively participating in the growth of the Solana ecosystem [6]. Partnership Details - The collaboration with Drift Protocol will integrate dfdvSOL into Drift's borrow/lend market, expanding its utility and offering new ways for users to access rewards [2][3]. - Future plans include exploring the tokenization of DFDV's publicly traded stock and other tokenized equity assets within Solana's DeFi ecosystem [3]. Product Information - dfdvSOL, developed by Sanctum in May 2025, is a liquid staking token that allows stakers to earn rewards while maintaining flexibility across DeFi applications [4].
DeFi Development Corp. Partners with Fragmetric to Expand Restaking Access via dfdvSOL
Globenewswire· 2025-06-04 12:00
Core Viewpoint - DeFi Development Corp. has announced a strategic partnership with Fragmetric to integrate its dfdvSOL Liquid Staking Token into Fragmetric's restaking platform, enhancing its treasury strategy focused on Solana accumulation [1][2][3] Group 1: Company Overview - DeFi Development Corp. is the first US public company with a treasury strategy aimed at accumulating and compounding Solana (SOL) [1] - The company operates its own validator infrastructure, generating staking rewards and fees from delegated stake, while actively participating in the growth of the Solana ecosystem [5] - The treasury policy allocates the principal holding to Solana, providing investors with direct economic exposure to SOL [5] Group 2: Partnership Details - The partnership with Fragmetric will allow holders of dfdvSOL to deposit their tokens and receive fragSOL, which provides access to restaking rewards across Solana's Node Consensus Network (NCN) ecosystem [2] - dfdvSOL is one of only five Liquid Staking Tokens currently supported by Fragmetric, reflecting the commitment to composability and integration within the Solana ecosystem [1][3] - The integration aims to enhance user experience by enabling seamless minting of fragSOL using various supported LSTs, including dfdvSOL [3] Group 3: Industry Context - Fragmetric is a native liquid restaking protocol on Solana, designed to enhance the security and economic potential of the Solana ecosystem [8] - The protocol implements a Normalized Token Program to leverage various LSTs, contributing to a secure and efficient restaking infrastructure [8]
DeFi Development Corp. Makes European Debut: DFDV Now Listed on Frankfurt Stock Exchange and Trade Republic
Globenewswire· 2025-06-03 12:00
BOCA RATON, FL, June 03, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company” or “DeFi Dev Corp.”), the first US public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced that its common stock, trading under the ticker symbol “DFDV” on the Nasdaq, is now listed on the Frankfurt Stock Exchange (FWB) and available for trading on Trade Republic, Germany’s largest online brokerage. This dual listing marks a significant milestone in the Comp ...