Defi Development Corp (DFDV)A NASDAQ-Bearing Company with a Krypto Tax Strategy Focused on Solana
said Wednesday that it will issue $ 112.5 million in convertible notes to raise capital for a stock purchase program and more sun purchases.
Notes offering that were set up from $ 100 million will mature by 2030 with a 5.5% annual rate and offer investors the right to convert debt to equity to $ 23.11 per year. Share, approx. 10% prize on Monday’s closure course.
Investors also have an opportunity to buy $ 25 million more of the notes in this round, which is expected to close on July 7.
DFDV shares traded 12% down in the early Wednesday session. It is more than 60% lower than the May top, but the company’s crypto -pivot has pushed it around 3,500%.
The company aims to spend $ 75 million of the proceeds for a prepaid forward -looking share purchase transaction, which is being negotiated with one of the original investors in convertible notes, according to the press release. This facility would allow the investor to uncover the convertible note position through derived trades and short sales, the company said.
The rest of the capital would go to general business use, including the acquisition of several sun -tokens.
Defi Dev, formerly known as Real Estate Tech Platform Janover, is part of a growing list of listed companies,
. The company focuses on Solana Blockchain, operating Validators and accumulates the network’s original token.
The latest fundraising round follows last month’s equity of $ 5 billion with RK Capital Management.
Read more: Defi Adding $ 5B Solana Purchase Power with New Credit Line
