DeFi Development Plans to Issue $1 Billion in Securities to Acquire More SOL

Doohyun Hwang

Summary

DeFi Development announced plans to issue $1 billion in securities to acquire Solana.
According to the SEC filing, the company plans to sell up to $1 billion in securities through common stock registration.
DeFi Development already holds about 317,000 Solana and stated that the funds will include Solana purchases.

DeFi Development is set to issue $1 billion in securities to purchase Solana (SOL).

According to a filing with the U.S. Securities and Exchange Commission (SEC) on the 25th (local time), DeFi Development has submitted an 'S-3 registration statement' to register up to 1,244,471 shares of common stock for existing shareholders and to sell securities worth up to $1 billion.

The company stated in the filing, "The funds raised through this securities issuance will be used for general corporate purposes, including the purchase of Solana (SOL)."

As of today, DeFi Development holds approximately 317,273 Solana, which amounts to about $48.2 million, including staking rewards. Meanwhile, Solana is trading at around $151 on the Binance Tether (USDT) market, down about 1% from the previous day.

SOL