AI-driven commercial real estate firm Janover has secured around $42 million in funding through a private sale of convertible notes and warrants.
The financing round drew support from major players in the crypto and venture capital space, including Pantera Capital, Kraken, and Arrington Capital.
The fundraising was conducted under exemptions provided by U.S. securities law, specifically Section 4(a)(2) and Regulation D of the Securities Act. The notes come with a modest 2.5% annual interest rate, paid quarterly, and will reach maturity in April 2030.
Investors have the option to convert the notes into common shares before they mature—provided Janover’s market cap surpasses $100 million. When this condition is met, the conversion price will be determined based on that day’s valuation, with a floor set at $4.81 per share.
Additionally, the deal includes warrants: for every $1,000 invested, backers can purchase 8.333 shares at $120 each and another 6.666 shares at $150.
The company has announced that a portion of the capital will be used to build a portfolio of digital assets, starting with investments tied to the Solana blockchain.
Interestingly, the company is now being led by former Kraken executives, signaling a deeper convergence between crypto expertise and the real estate tech space.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/real-estate-firm-to-build-solana-treasury-after-raising-42m/