DeFi Development Corp, formerly Janover and now trading on Nasdaq, is gearing up to expand its Solana holdings by following a strategy reminiscent of MicroStrategy’s Bitcoin playbook.
The firm has revealed plans to raise $100 million through the sale of convertible senior notes, with the proceeds earmarked for building a Solana reserve, stock buybacks, and broader corporate needs.
The offering will target qualified institutional investors under Rule 144A.
This comes after a prior $1 billion IPO filing was pulled earlier this year due to a regulatory filing issue. At the time, part of the capital was also intended for Solana acquisitions.
DeFi Development’s aggressive push into Solana signals growing corporate conviction in the blockchain’s long-term value.
With Solana’s expanding DeFi and NFT ecosystems and potential ETF interest on the horizon, the firm appears to be positioning itself early ahead of what could be a broader wave of institutional adoption.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/nasdaq-listed-defi-firm-aims-to-build-100m-solana-reserve/