DeFi Development Corp. expands the issuance of convertible notes to $112 million for Solana investment.

robot
Abstract generation in progress

According to a report by Decrypt on July 3, Deep Tide TechFlow announced that DeFi Development Corp.(DFDV) has expanded its convertible note issuance from $100 million to $112 million, and has granted initial purchasers an additional subscription option of $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 increasing holdings in Solana Token.

DFDV Chief Operating Officer Parker White stated: "Convertible bonds allow us to raise funds from investors with a lower risk appetite, who are willing to exchange some upside potential for downside protection." The company began implementing its Solana reserve strategy in early April and has accumulated approximately 621,000 Solana (worth about $95 million) and acquired a Solana validator company.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)