DEFI DEVELOPMENT CORP (DFDV)A firm that lies in Nasdaq with a Cryptographic Treasury strategy centered on Solana
He said Wednesday that he will issue $ 112.5 million in convertible notes to raise capital for a shares and more sun purchase program.
The offer of notes, which increased from $ 100 million, will mature in 2030 with an annual rate of 5.5% and will offer investors the right to convert capital debt into $ 23.11 per share, approximately a 10% premium in the closing price of Monday.
Investors also have the option of buying $ 25 million from the notes in this round, which is expected to close on July 7.
DFDV shares quoted 12% in the early session on Wednesday. That is more than 60% lower than the May peak, but the cryptographic pivot of the company has pushed around 3,500%.
The firm aims to use $ 75 million of income for a transaction for the purchase of prepaid term shares that is being negotiated with one of the initial investors in convertible notes, according to the press release. This installation would allow the investor to cover the convertible note position through derived operations and short sales, the firm said.
The rest of the capital would go to the general use of the company, including the acquisition of more tokens sun.
Defi Dev, previously known as the Janover Real Estate Technology Platform, is part of a growing list of companies that are listed in the stock market by collecting funds selling actions and debt to add cryptocurrencies in its general balance, following the book book of the strategy with Bitcoin
. The company focuses on the solar block chain, operating validators and accumulating the native token of the network.
The last fund collection round follows the capital credit line of $ 5 billion last month with RK Capital Management.
Read more: Defi by adding $ 5b of solar purchase power with new credit line
