1 day ago
DeFi Development Corp. (DFDV), the Nasdaq-listed steadfast pursuing a solana SOL treasury strategy, is readying to get immoderate much adust pulverization to boost its SOL stack.
According to a Thursday press release, the institution has secured a $5 cardinal equity enactment of recognition with RK Capital Management. The statement allows DeFi Dev to merchantability shares astatine its discretion, truthful agelong arsenic it meets conditions similar filing a resale registration with the U.S. Securities and Exchange Commission. The institution said it plans to record the indispensable paperwork soon.
"We present person the flexibility and operation we request to scale," said Joseph Onorati, Chief Executive Officer. "This is simply a clean, strategical way to proceed increasing SOL per stock and compounding validator yield."
DFDV shares rebounded from aboriginal losses and were up 12% during the Thursday session.
The company, formerly known arsenic existent property tech level Janover, is portion of a increasing inclination of publicly-traded firms raising funds by selling shares and indebtedness to adhd cryptocurrencies connected their equilibrium sheet, pursuing Strategy's playbook with bitcoin BTC.
The steadfast focuses connected Solana, accumulating the network's autochthonal token and operating validators. It held implicit 609,00 SOL tokens arsenic of May 16, worthy $96 cardinal astatine existent prices.
The latest determination comes soon aft the steadfast withdrew a erstwhile filing for a $1 cardinal stock sale, with plans to refile again.
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