PANews July 2 news, according to The Block, Solana ecosystem listed company DeFi Development Corp (stock code FDFV) disclosed details of a $112.5 million private placement financing, which will mainly be used to increase the holding of SOL tokens. The transaction includes a 'prepaid forward' stock purchase agreement, allowing investors to hedge risks by establishing short positions.
According to the announcement, the annual interest rate of the convertible bonds issued by the company is 5.5%, maturing in 2023, with a conversion premium of 10%. Of this, $75.6 million will be used for the aforementioned hedging transactions, and the remaining funds will be used for corporate operations and the acquisition of SOL. The company's holdings at the end of May showed that it held 621,313 SOL (approximately $107 million), and in June it also obtained a credit line of $5 billion.