DeFi Dev Corp. Secures Funding With $112.5M Convertible Note Sale, Aims to Purchase SOL

Key Points

1. DeFi Development Corp. priced a $112.5 million private offering of convertible senior notes with a 5.5% interest rate, maturing on July 1, 2030.

2. The notes are convertible at a rate of 43.2694 shares per $1,000 note principal, representing a 10% premium over the company's common stock closing price of $21.01 on July 1.

3. Initial purchasers have a 7-day option to buy up to $25 million more notes, potentially increasing the total proceeds to $132.2 million.

4. Net proceeds are estimated at $108.1 million, with approximately $75.6 million allocated for remaining purposes.

5. The notes will pay interest semi-annually starting January 2026, with conversion conditions applicable before July 2030.