DeFi Development Corp. raises $125 million in equity offering

BOCA RATON - DeFi Development Corp. (NASDAQ:DFDV) announced Monday it has entered into definitive agreements for a $125 million equity offering priced at $12.50 per share, expected to close on Thursday, August 28. The company, currently valued at $393 million, has demonstrated remarkable performance with a 2,813% year-to-date return according to InvestingPro data.

The transaction involves selling approximately 4.2 million common stock shares and pre-funded warrants for about 5.7 million additional shares at $12.4999 each with a $0.0001 exercise price per share.

The company will receive a combination of cash and locked Solana (SOL) tokens as consideration. According to the company, net proceeds will be deployed into both spot SOL and discounted locked SOL to expand its treasury holdings.

"This raise allows us to add a significant amount of SOL to our balance sheet while still driving NAV/share accretion," said Joseph Onorati, Chief Executive Officer of DeFi Development Corp.

This financing follows earlier 2025 transactions including convertible debt, PIPE equity, and an ELOC facility, bringing total capital raised year-to-date to over $370 million.

DeFi Development Corp. describes itself as the first US public company with a treasury strategy built to accumulate and compound Solana. Beyond holding and staking SOL, the company operates validator infrastructure to generate staking rewards and fees from delegated stake.

Cantor Fitzgerald & Co. served as exclusive financial advisor and sole placement agent for the transaction, with Perkins Coie LLP serving as company counsel.

The transaction remains subject to customary closing conditions, according to the press release statement.

In other recent news, DeFi Development Corp. reported its second-quarter earnings, showcasing significant growth in its Solana holdings and staking operations. The company announced earnings per share of $0.84 and revenue totaling $1.97 million. Notably, its Solana Per Share (SPS) metric increased by 47% from June 30, reaching 0.0619 as of August 12. Additionally, DeFi Development Corp. raised $165 million in capital during July, boosting its SPS by 34% month-over-month. In another development, the company signed a Letter of Intent with AllDomains Labs Limited to establish a joint Solana validator partnership. This collaboration aims to operate a high-performance Solana validator and includes plans for co-marketing and additional delegation efforts. These recent developments highlight the company’s strategic focus on expanding its Solana ecosystem presence.

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