U.S. DeFi Development to issue $65 million in preferred shares…"For buying Solana"
JOON HYOUNG LEE
Summary
- U.S. Nasdaq-listed company DeFi Development said it will seek to issue up to $65 million in preferred shares to buy Solana (SOL).
- It said the funds raised will be used for purchasing Solana and operating funds, among other purposes.
- DeFi Development has transformed into a company stockpiling Solana since the first half of this year, and said it is the first U.S.-listed company to adopt a financial strategy to stockpile Solana.
U.S. Nasdaq-listed company DeFi Development is seeking to issue preferred shares to buy Solana (SOL).
DeFi Development said on the 12th (local time) that it will issue perpetual preferred shares of up to $65 million (about 100 billion won). DeFi Development said, "(We) plan to use the funds raised through the (preferred share) offering for purposes such as purchasing Solana and operating funds."
DeFi Development started as an online real estate company but transformed into a company stockpiling Solana in the first half of this year. The company explained, "DeFi Development is the first U.S.-listed company to adopt a financial strategy designed to stockpile Solana."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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