DeFi Development disclosed details of 112.5 million financing, with some funds used to purchase SOL.

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According to ChainCatcher news and reported by The Block, the Solana reserve strategy company DeFi Development Corp (DDC), formerly known as Janover, has disclosed details of its $112.5 million private sale financing for the purchase of SOL tokens, which includes a financial arrangement to provide investors with hedging risk options. The company will use approximately $75.6 million to fund a "prepaid forward" stock purchase transaction, with the remaining funds used for "general corporate purposes, including acquisition of SOL." According to Wednesday's announcement, the company has secured a total of $112.5 million in convertible note principal — valued at approximately $132.2 million if the initial purchasers exercise all options — expected to be completed by July 7. The note has an annual interest rate of 5.5%, paid semi-annually, and will mature in 2030. The note will also have a 10% conversion premium based on a closing price of $21.01 on July 1, 2025.

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