DeFi Development to Issue $100 Million Worth of Convertible Senior Notes for the Purpose of Solana Reserves
YM Lee
Summary
- DeFi Development announced that it is seeking to raise funds for a strategic reserve of Solana.
- The company stated that it will privately issue $100 million worth of convertible senior notes to qualified institutional buyers.
- The proceeds are planned to be used for repurchasing common stock and acquiring Solana, among other general corporate activities.
Nasdaq-listed DeFi Development Corp (DFDV) has begun raising funds to strategically accumulate Solana (SOL) tokens.
On the 2nd (local time), DeFi Development announced through its official channels: “We will privately issue $100 million of 2030-maturity convertible senior notes, pursuant to Rule 144A of the Securities Act, to investors classified as qualified institutional buyers.”
The raised funds will be used for general corporate activities, including the repurchase of common stock through prepaid forward purchases and the acquisition of Solana.
YM Lee
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