Business
DeFi Development Corp. Announces Closing of $24 Million Private Placement
BOCA RATON, FL, May 08, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (“DeFi Dev Corp” or the “Company”), or formally known as Janover Inc.
About this update from Defi Development Corp.
[{"type":"text","content":"BOCA RATON, FL, May 08, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (“DeFi Dev Corp” or the “Company”), or formally known as Janover Inc. (Nasdaq: JNVR), today announced the closing of its previously announced private investment in public equity (“PIPE”) financing. The PIPE resulted in gross proceeds of approximately $24 million to the Company, before placement agent fees and offering expenses. Pursuant to the terms of the securities purchase agreement, the Company sold 315,838 shares of its common stock and pre-funded warrants to purchase an aggregate of 207,679 shares of its common stock. The purchase price for the shares of common stock was $46.00 per share and the purchase price for pre-funded warrants was $45.99 per underlying share. Net proceeds are expected to be used for general corporate purposes, including to be deployed toward continued accumulation of Solana (SOL). The securities described above were sold in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and/or Rule 506(b) of Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be resold absent registration under the Act or an applicable exemption from such registration requirements. Concurrently with the execution of the securities purchase agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About DeFi Development Corp. DeFi Development Corp. (Nasdaq: JNVR) has adopted a treasury policy under which the principal holding in its treasury reserve on the balance sheet will be allocated to Solana (SOL). In adopting its new treasury policy, the Company intends to provide investors a way to access the Solana ecosystem. The Company’s treasury pol...