According to Deep Tide TechFlow news on July 3, Decrypt reported that DeFi Development Corp. (DFDV) announced an increase in its convertible note issuance from $100 million to $112 million, granting initial purchasers an additional option to subscribe for $25 million within 7 days. The company plans to allocate approximately $75 million for prepaying forward stock purchase transactions, with the remaining funds used for general corporate purposes and to increase its Solana token holdings.
DFDV Chief Operating Officer Parker White said: "Convertible bonds allow us to raise funds from investors with lower risk appetites who are willing to trade some upside potential for downside protection." The company began executing its Solana reserve strategy in early April and has accumulated approximately 621,000 Solana (worth about $95 million) and acquired a Solana validator company.
