According to ChainCatcher, The Block reported that Nasdaq-listed DeFi Development Corp (formerly Janover) stated on Thursday that it expects to receive a total of $24 million in private equity investment (PIPE), which will help the company fund general corporate purposes, including purchasing more Solana. Participants in this PIPE include Galaxy Digital, Amber International Holding Limited, Arrington Capital, Republic Digital, Borderless Capital, RK Capital, and Great Point Capital.
The announcement shows that as part of the transaction, DeFi Development Corp will sell approximately 310,000 shares of common stock, as well as pre-funding warrants to purchase about 215,000 shares of common stock, with an exercise price of approximately $46 per share. The company's stock is traded on the Nasdaq under the ticker JNVR, and as of the time of publication, the stock price is $76.36.
After completing a brand overhaul in mid-April, this PIPE financing will further propel the company's expansion of the Solana treasury strategy—which includes staking its holdings for yield. As of May 1, the company holds 317,273 SOL, valued at approximately $46.2 million, including staking rewards.
