Solana treasury firm extends stock rally after buying $2.7M of SOL
2025-07-04 06:12:35
Main Idea
DeFi Development Corp.'s stock surged after purchasing $2.7 million worth of Solana (SOL), increasing its total SOL holdings to $98 million, while also announcing plans to raise $112.5 million.
Key Points
1. DeFi Development Corp. bought 17,760 SOL tokens worth $2.72 million at an average price of $153.10 per coin, bringing its total holdings to 640,585 SOL (~$98 million).
2. The company's stock (DFDV) rose nearly 17% to $23.80 on Thursday, with an additional 0.8% increase in after-hours trading, marking a 30% rally from its Wednesday low of $18.47.
3. Year-to-date, the stock has surged 2,733%, though it remains 33% below its May 21 peak of $35.53.
4. The company announced plans to raise $112.5 million via private placements, with $75.6 million earmarked for undisclosed purposes, including SOL purchases.
5. In April, DeFi Development Corp. initially planned to raise $1 billion for Solana investments but withdrew its filing with the SEC before the due date.
Description
The company’s Solana stack is now worth almost $98 million. The firm’s stock price is up 2,733% year-to-date.
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