DeFi Development launches $200 million equity program to buy Solana tokens

DeFi Development Corp. (NASDAQ: DFDV) announced a $200 million at-the-market equity program to fund purchases of Solana tokens and other strategic initiatives.

The company stated it will use proceeds from the program to buy SOL tokens, fund working capital, and pursue strategic initiatives. DeFi Development said it will only issue stock when the transaction would be accretive to shareholders on a fully converted SOL-per-share basis.

"We have one job: stack SOL for our shareholders," said Joseph Onorati, Chairman and CEO of DeFi Development Corp. "This program opens the door to $200 million of dry powder to do exactly that, on our terms."

DeFi Development describes itself as the first US public company with a treasury strategy focused on accumulating Solana tokens. The company holds SOL as its principal treasury reserve asset and operates validator infrastructure to generate staking rewards and fees.

The company also operates an AI-powered platform that provides software services to commercial real estate professionals, offering data and software subscriptions on a software-as-a-service basis.

The information was disclosed in a company press release.

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