DeFi Corp Raises $112.5M to Fund Aggressive Solana Strategy

* DDC secures $112.5 million via convertible notes for its Solana acquisition strategy. * The deal includes a "prepaid forward" component and a 10% conversion premium to hedge against volatility. DeFi Development Corp (DDC), a company specializing in Solana treasury strategies, raised $112.5 million through a private placement of convertible notes to fund its Solana (SOL) token acquisitions. The transaction allocates $75.6 million to a "prepaid forward" stock purchase, a financial approach that helps reduce investor exposure to price volatility by using hedging mechanisms like short positions. Meanwhile, DDC will use the remaining funds for general corporate purposes, including additional SOL investments. The notes mature in 2030 and carry a 5.5% annual interest rate, paid semi-annually. Investors will benefit from a 10% conversion premium over Solana’s closing price of $21.01 on July 1, 2025. The deal also offers initial purchasers an option to acquire an additional $25 million in notes. On July 2, 2025, The Block reported that this move is pivotal for DDC, which trades under the ticker DDFV. The firm pivoted earlier this year from its original identity as real estate tech company Janover after former Kraken executives acquired the company; it then rebranded in April 2025 to align with its new focus on Solana treasury management. In addition to providing third-party staking services, DDC stakes SOL for its own reserves and, as of May, held 420,690 SOL tokens valued at approximately $61.9 million. Despite the funding announcement, DDFV's stock declined sharply, closing at $19.01—a 9.52% drop from the prior day. The stock has been highly volatile over the past year, reaching a 52-week high of $53.88 and a low of $0.48. According to Market Survey on July 2, Solana’s (SOL) price was $150.56 as of 15:08 UTC, reflecting a 2.1% increase in its 24-hour trading volume.