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「SOL Version of MicroStrategy」 DDC Announces Details of $112.5 Million Financing

2025-07-02 22:25

BlockBeats News, July 2nd, Solana reserve strategy company DeFi Development Corp (DDC) (formerly known as Janover) disclosed details of its $112.5 million private placement financing deal to purchase SOL tokens, including a financial arrangement to provide investors with a risk-mitigation mechanism. The company will use approximately $75.6 million to fund a "prepaid forward" stock purchase transaction, with the remaining funds allocated for "general corporate purposes, including acquiring SOL."


According to Wednesday's announcement, the company has received a total of $112.5 million in convertible note principal—valued at approximately $132.2 million if all initial purchasers exercise their full options—expected to close on July 7th. The notes carry a 5.5% annual interest rate, payable semiannually and maturing in 2030. The notes will also have a 10% conversion premium based on a closing price of $21.01 per share on July 1, 2025.

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