DeFi Development Corp. executes seven-for-one stock split

DeFi Development Corp., previously known as Janover Inc., has completed a significant change to its capital structure with a seven-for-one forward stock split of its common stock, which took effect this past week. The company, currently valued at $262 million according to InvestingPro data, has seen its stock surge nearly 90% in the past week alone. The company’s board of directors approved the amendment to the company’s Amended and Restated Certificate of Incorporation on May 6, 2025, to initiate the stock split. This move was formalized with the filing of the Charter Amendment with the Secretary of State of the State of Delaware on May 19, 2025, and the amendment became effective on May 20, 2025.

The record date for the stock split was set as May 19, 2025, with the additional shares being distributed on May 20, 2025. Trading on a post-stock split adjusted basis commenced on the morning of May 21, 2025. InvestingPro data shows the stock is now trading near its 52-week high of $26.86, with remarkable year-to-date returns exceeding 3,500%. InvestingPro subscribers have access to 11 additional key insights about DFDV’s performance and valuation. As a result of this corporate action, every one share of the company’s common stock held by shareholders was converted into seven shares. The stock split also proportionately increased the number of shares reserved for issuance under the company’s equity incentive plans and the number of shares underlying outstanding equity awards. Additionally, the exercise price of outstanding stock options was adjusted accordingly.

This strategic decision by DeFi Development Corp., a Delaware corporation with a business address in Boca Raton, Florida, is reflected in the trading of its common stock on the Nasdaq Stock Market LLC under the trading symbol DFDV. The company maintains a healthy liquidity position with a current ratio of 2.89, indicating strong ability to meet short-term obligations. The company’s common stock has a par value of $0.00001 per share. It is noteworthy that the number of shares of common stock issued and outstanding, as well as the number reserved for future issuance, has increased in line with the seven-for-one ratio of the stock split.

The complete details of the Charter Amendment related to the stock split can be found in the full text of the amendment, which is incorporated by reference and attached to the 8-K filing as Exhibit 3.1. This information is based on a press release statement.

In other recent news, DeFi Development Corp. has made significant strides in its cryptocurrency strategy by acquiring 16,447 Solana (SOL) tokens, a purchase worth approximately $2.3 million. This acquisition increases the company’s total SOL holdings to about 609,190 tokens, valued at around $107 million, marking it as the largest publicly traded holder of SOL. Additionally, DeFi Development Corp. has partnered with BONK to manage a jointly backed validator node on the Solana network, which is expected to generate revenue and enhance its SOL per share metric. In a related development, DeFi Development Corp. has also purchased 65,305 SOL tokens, bringing its total holdings to approximately 317,273 tokens, valued at $48.2 million. This aligns with the company’s strategy to stake these tokens to generate yield, even if they are locked due to contractual conditions. Furthermore, the company has acquired an additional 88,164 SOL tokens valued at approximately $11.5 million, increasing its total holdings to 251,842 tokens. This move follows a $42 million financing round aimed at long-term crypto asset accumulation. Meanwhile, Janover Inc. has formed a strategic partnership with BitGo to expand its Solana holdings, focusing on locked tokens that can be staked for yield. Janover’s treasury strategy aims to provide investors with exposure to Solana through a public equity vehicle, holding over $21.2 million in SOL.

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