Nasdaq-listed DeFi Development Corp Issues $100 Million Convertible Bonds to Expand Solana Accumulation Strategy

On July 1, DeFi Development Corp, listed on the Nasdaq, announced its intention to issue $100 million in convertible preferred bonds maturing in 2030 through a private placement. This company is the first listed entity in the U.S. to adopt a reserve strategy aimed at accumulating Solana (SOL) and achieving compound growth. Depending on market conditions, the company has also set an option for an additional issuance of up to $25 million. A portion of the raised funds will be allocated to repurchasing its own shares, with the remainder intended for general corporate purposes and the purchase of Solana. On June 12, the company entered into a stock purchase agreement with RK Capital Management for up to $5 billion, marking a phased approach to capital raising...