DeFi Development Company (JNVR), referred to as the 'MicroStrategy of Solana,' has submitted a $1 billion 'shelf offering' application to the U.S. Securities and Exchange Commission (SEC).
Recently, the company that changed its name from Janover to DeFi Development Company (DDC) announced that it has applied to the SEC to issue different types of securities worth up to 1 billion dollars. The company will carry out this funding through various financial instruments such as stocks, preferred stocks, warrants, and debt instruments.
In a statement made by DDC, it was indicated that these securities could be offered for sale in several stages rather than all at once, with prices and terms to be determined later. The application needs to be approved by the SEC; however, it is not yet clear when the funding process will begin.
DDC is one of the publicly traded companies that has made a name for itself in the cryptocurrency sector with its Solana (SOL) investments. The company offers investors the opportunity to indirectly enter the market without directly purchasing cryptocurrencies by making SOL acquisitions through Galaxy Digital, Sol Strategies, and Upexi.
This strategy followed by DDC is likened to MicroStrategy CEO Michael Saylor's Bitcoin investment. However, DDC and Sol Strategies do not just stop at acquiring tokens; they are also staking with SOL assets and making their assets 'efficient' by operating validator nodes.
DDC's main area of activity is providing 'software as a service' for commercial real estate debt financing inherited from the Janover era. Last year, the company stepped into the crypto sector by accepting payments with BTC, ETH, and SOL, and earlier this year, it had incorporated former executives from Kraken exchange.
The company currently holds approximately 34.4 million dollars worth of SOL.
