DeFi Development Corp to Raise $1 Billion for Solana Acquisition
DeFi Development Corp. (JNVR) is intensifying its strategy to purchase more Solana for its treasury, aiming to raise up to $1 billion through securities offerings. Key points include:
- The firm plans to use funds for general corporate purposes, including acquiring Solana.
- It has already acquired approximately $48.2 million in SOL and intends to operate validators on the Solana blockchain for staking rewards.
- Corporations are increasingly adding SOL to their balance sheets to attract traditional finance investors.
- SOL Strategies has secured a $500 million convertible note facility for further investments in Solana.
- Recent leadership changes include Joseph Onorati as CEO and chairman, with Parker White as COO and John Han as CFO.
- DeFi Development also filed to register 1.24 million shares for early investors like Pantera Capital and Kraken.
- Following these developments, shares of DeFi Development surged over 970% and increased about 4% in after-hours trading, reaching $54 per share.