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DeFi Development Corp. (DFDV) announced it now holds approximately 1,182,685 SOL and SOL equivalents on its balance sheet, including rewards from staking and onchain activities.
The company purchased 181,303 SOL between July 21-28 at an average price of $155.33, representing approximately $28 million in total value. The purchases were funded primarily through proceeds from the company’s Equity Line of Credit and included both spot and discounted locked SOL.
The acquisition increased the company’s SOL per share metric to 0.0575 as of July 28, marking a 12% week-over-week increase. This represents the second consecutive week of double-digit growth in the metric. The total SOL holdings are valued at approximately $218 million.
During the July 21-28 period, DeFi Development Corp. raised approximately $20 million in net proceeds through its Equity Line of Credit facility, issuing approximately 975,000 shares of common stock. This brought total month-to-date proceeds to $39 million, with approximately $10 million remaining available for future SOL purchases.
The company has drawn 0.8% of the total available capacity under its ELOC, with approximately $4.96 billion remaining available under the facility. The company has 20,556,103 total shares outstanding as of July 28.
The newly acquired SOL will be held long-term and staked to various validators, including DeFi Dev Corp.’s own Solana validators to generate yield. The company operates validator infrastructure and generates staking rewards and fees from delegated stake.
DeFi Development Corp. describes itself as adopting a treasury policy with SOL as the principal holding in its treasury reserve, providing investors with direct economic exposure to the cryptocurrency while participating in the Solana ecosystem.