DeFi Development Corp Secures $5 Billion Equity Line of Credit
DeFi Development Corp. (DFDV) plans to enhance its Solana (SOL) holdings with a $5 billion equity line of credit from RK Capital Management. Key points include:
- Agreement allows DFDV to sell shares at its discretion, pending SEC registration.
- CEO Joseph Onorati stated this provides flexibility for growth in SOL per share and validator yield.
- DFDV shares rose 12% during the Thursday session.
- The company aims to accumulate more SOL tokens and operate validators.
- As of May 16, DFDV held over 609,000 SOL tokens valued at approximately $96 million.
- The firm previously withdrew a $1 billion share sale filing, intending to refile.