"Solana’s MicroStrategy: DDC Reveals Details of $112.5 Million Fundraising"
BlockBeats News, July 2 — Solana reserve strategy firm DeFi Development Corp (DDC), formerly known as Janover, has disclosed details of its $112.5 million private placement used to purchase SOL tokens, which includes a financial arrangement offering investors a way to hedge risk. The company will use approximately $75.6 million to fund “prepaid forward” stock purchase transactions, with the remaining funds allocated for “general corporate purposes, including acquiring SOL.”
According to Wednesday’s announcement, the company has secured a total of $112.5 million in convertible note principal—which could reach approximately $132.2 million if initial purchasers exercise all options—and the deal is expected to close on July 7. The notes carry an annual interest rate of 5.5%, paid semiannually, and will mature in 2030. The notes also feature a 10% conversion premium based on the closing price of $21.01 on July 1, 2025.
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