DeFi Development Corp. Announces Proposed Private Offering of $100 Million of Convertible Notes
DeFi Development Corp. (Nasdaq: DFDV), a US public company focused on accumulating and compounding Solana (SOL), has announced plans for a $100 million private offering of convertible senior notes due 2030. The company will also grant initial purchasers an option for an additional $25 million in convertible notes.
The convertible notes will be senior unsecured obligations with semi-annual interest payments starting January 1, 2026. They will be convertible into cash, common stock, or a combination thereof at the company's discretion. The company plans to use the proceeds to repurchase shares through a prepaid forward stock purchase transaction and for general corporate purposes, including SOL acquisition.
In connection with the offering, DeFi Development Corp. will enter into a prepaid forward transaction with one of the initial purchasers, designed to facilitate hedging arrangements for note investors. This transaction could potentially impact the market price of the company's common stock and the conversion price of the notes.
DeFi Development Corp. (Nasdaq: DFDV), una società pubblica statunitense specializzata nell'accumulare e capitalizzare Solana (SOL), ha annunciato un'offerta privata di 100 milioni di dollari in obbligazioni senior convertibili con scadenza 2030. Inoltre, la società concederà agli acquirenti iniziali un'opzione per ulteriori 25 milioni di dollari in obbligazioni convertibili.
Le obbligazioni convertibili saranno obbligazioni senior non garantite con pagamenti di interessi semestrali a partire dal 1° gennaio 2026. Saranno convertibili in contanti, azioni ordinarie o una combinazione di entrambe, a discrezione della società. I proventi saranno utilizzati per riacquistare azioni tramite una transazione di acquisto azionario anticipato e per scopi aziendali generali, inclusa l'acquisizione di SOL.
In relazione all'offerta, DeFi Development Corp. stipulerà una transazione di acquisto azionario anticipato con uno degli acquirenti iniziali, progettata per facilitare operazioni di copertura per gli investitori delle obbligazioni. Questa transazione potrebbe influenzare il prezzo di mercato delle azioni ordinarie della società e il prezzo di conversione delle obbligazioni.
DeFi Development Corp. (Nasdaq: DFDV), una empresa pública estadounidense enfocada en acumular y capitalizar Solana (SOL), ha anunciado un ofrecimiento privado de 100 millones de dólares en notas convertibles senior con vencimiento en 2030. La compañía también otorgará a los compradores iniciales una opción para adquirir notas convertibles adicionales por 25 millones de dólares.
Las notas convertibles serán obligaciones senior no garantizadas con pagos de intereses semestrales a partir del 1 de enero de 2026. Podrán convertirse en efectivo, acciones comunes o una combinación de ambas, a discreción de la compañía. Los fondos se utilizarán para recomprar acciones mediante una transacción de compra de acciones prepagada y para fines corporativos generales, incluida la adquisición de SOL.
En relación con la oferta, DeFi Development Corp. celebrará una transacción de compra de acciones prepagada con uno de los compradores iniciales, diseñada para facilitar arreglos de cobertura para los inversores de las notas. Esta transacción podría afectar el precio de mercado de las acciones comunes de la compañía y el precio de conversión de las notas.
DeFi Development Corp. (나스닥: DFDV)는 솔라나(SOL)를 축적하고 복리로 운용하는 데 중점을 둔 미국 상장 기업으로, 2030년 만기 전환 가능 선순위 채권 1억 달러 규모의 사모 발행 계획을 발표했습니다. 또한 초기 투자자들에게 추가로 2,500만 달러 규모의 전환 가능 채권 옵션도 부여할 예정입니다.
이 전환 가능 채권은 선순위 무담보 채무로, 2026년 1월 1일부터 반기별 이자 지급이 이루어집니다. 현금, 보통주 또는 이 둘의 조합으로 회사 재량에 따라 전환할 수 있습니다. 회사는 조달 자금을 선불 주식 매입 거래를 통해 자사주를 재매입하고, 일반 기업 목적 및 SOL 매입에 사용할 계획입니다.
이번 발행과 관련하여 DeFi Development Corp.는 초기 투자자 중 한 명과 선불 주식 매입 거래를 체결할 예정이며, 이는 채권 투자자들의 헤지 거래를 지원하기 위한 것입니다. 이 거래는 회사 보통주의 시장 가격과 채권 전환 가격에 영향을 미칠 수 있습니다.
DeFi Development Corp. (Nasdaq : DFDV), une société publique américaine spécialisée dans l'accumulation et la capitalisation de Solana (SOL), a annoncé un placement privé de 100 millions de dollars en billets convertibles seniors arrivant à échéance en 2030. La société accordera également aux premiers acheteurs une option pour un montant supplémentaire de 25 millions de dollars en billets convertibles.
Les billets convertibles seront des obligations seniors non garanties avec des paiements d'intérêts semestriels à partir du 1er janvier 2026. Ils pourront être convertis en espèces, en actions ordinaires ou en une combinaison des deux, à la discrétion de la société. Les fonds seront utilisés pour racheter des actions via une transaction d'achat d'actions à terme prépayée et pour des besoins généraux de l'entreprise, y compris l'acquisition de SOL.
Dans le cadre de cette offre, DeFi Development Corp. conclura une transaction d'achat d'actions à terme prépayée avec l'un des premiers acheteurs, destinée à faciliter les opérations de couverture pour les investisseurs des billets. Cette transaction pourrait potentiellement influencer le cours de marché des actions ordinaires de la société ainsi que le prix de conversion des billets.
DeFi Development Corp. (Nasdaq: DFDV), ein US-amerikanisches börsennotiertes Unternehmen, das sich auf das Ansammeln und Vermehren von Solana (SOL) spezialisiert hat, hat Pläne für ein privates Angebot von wandelbaren Senior Notes im Wert von 100 Millionen US-Dollar mit Fälligkeit 2030 bekannt gegeben. Zudem wird das Unternehmen den Erstkäufern eine Option für zusätzliche 25 Millionen US-Dollar an wandelbaren Schuldverschreibungen gewähren.
Die wandelbaren Schuldverschreibungen werden unbesicherte Seniorverbindlichkeiten mit halbjährlichen Zinszahlungen ab dem 1. Januar 2026 sein. Sie können nach Ermessen des Unternehmens in Bargeld, Stammaktien oder eine Kombination daraus umgewandelt werden. Die Erlöse sollen für den Rückkauf von Aktien im Rahmen einer vorab bezahlten Aktienkauftransaktion sowie für allgemeine Unternehmenszwecke, einschließlich des Erwerbs von SOL, verwendet werden.
Im Zusammenhang mit dem Angebot wird DeFi Development Corp. eine vorab bezahlte Transaktion mit einem der Erstkäufer eingehen, die dazu dient, Absicherungsmaßnahmen für die Anleiheinvestoren zu erleichtern. Diese Transaktion könnte den Marktpreis der Stammaktien des Unternehmens sowie den Umwandlungspreis der Schuldverschreibungen beeinflussen.
- Potential to raise up to $125 million through convertible note offering
- Strategic initiative to expand SOL holdings through proceeds
- Implementation of share repurchase program through prepaid forward transaction
- Additional debt obligation through convertible notes until 2030
- Potential dilution risk for existing shareholders upon note conversion
- Possible market price volatility due to hedging activities
Insights
DFDV's $100M convertible notes offering will increase debt, repurchase shares, and fund Solana acquisition - a significant financial restructuring.
DeFi Development Corp. is making a major financial move with its planned
The convertible notes represent substantial new debt for DFDV - these are senior unsecured obligations that will pay semi-annual interest beginning January 2026. Investors can convert these notes to cash, common stock, or a combination at DFDV's discretion, providing flexible financing that's less dilutive than a straight equity offering but potentially more expensive than traditional debt.
The company plans to use the proceeds for two distinct purposes: share repurchases via a prepaid forward agreement and Solana (SOL) acquisition. The share repurchase component suggests management believes their stock may be undervalued, while the SOL acquisition aligns with their stated treasury strategy to accumulate and compound Solana.
The complex prepaid forward transaction deserves particular attention. This mechanism facilitates derivative transactions between note purchasers and a counterparty, enabling investors to hedge their positions. Such arrangements can temporarily impact stock price around the offering date due to hedging activities, which could create short-term price volatility.
This financing approach demonstrates DFDV's commitment to its unique cryptocurrency-focused treasury strategy while attempting to minimize immediate dilution through the repurchase component. However, investors should recognize the potential long-term dilution if notes convert to equity and the interest expense that will impact future earnings.
BOCA RATON, FL, July 01, 2025 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company”), the first US public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced that it intends to offer, subject to market conditions and other factors,
The Company intends to use a portion of the net proceeds from the offering to repurchase shares of the Company’s common stock, par value
The Convertible Notes will be senior unsecured obligations of the Company and will accrue interest at a rate payable semi-annually in arrears on January 1 and July 1 of each year, beginning on January 1, 2026. The Convertible Notes will mature on July 1, 2030, unless earlier repurchased, redeemed or converted in accordance with their terms. Prior to January 1, 2030, the Convertible Notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, the Convertible Notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date.
The Convertible Notes will be convertible into cash, shares of common stock or a combination of cash and shares of common stock, at the Company’s election, subject to certain restrictions. The initial conversion rate, interest rate, and other terms of the Convertible Notes will be determined at the time of pricing in negotiations with the initial purchasers of the Convertible Notes.
In connection with the pricing of the Convertible Notes, the Company expects to enter into a privately negotiated prepaid forward stock purchase transaction (the “prepaid forward”) with one of the initial purchasers of the Convertible Notes (the “forward counterparty”).
The prepaid forward is generally intended to facilitate privately negotiated derivative transactions, including swaps, between the forward counterparty or its affiliates and investors in the Convertible Notes, enabling those investors to hedge their investments in the Convertible Notes. As a result, the prepaid forward is expected to allow the investors to establish short positions that generally correspond to (but may be greater than) commercially reasonable initial hedges of their investment in the Convertible Notes. In the event of such greater initial hedges, investors may offset such greater portion by purchasing shares of common stock on the day the Company prices the Convertible Notes. In connection with establishing its initial hedges of the prepaid forward, the forward counterparty or its affiliates generally expect to, but are not required to, enter into one or more derivative transactions with respect to shares of common stock with the investors of the Convertible Notes concurrently with or after the pricing of the Convertible Notes. Such activities, which may occur on or shortly after the pricing date of the Convertible Notes, could have the effect of increasing (or reducing the size of any decrease in) the market price of the shares of common stock and effectively raise the conversion price of the Convertible Notes.
Neither the Company nor the forward counterparty will control how investors of the Convertible Notes may use such derivative transactions, and any related market activity could result in more purchases or sales of common stock than there otherwise would have been, potentially impacting the market price of common stock and/or the price of the Convertible Notes.
In addition, the forward counterparty or its affiliates may modify its hedge positions by entering into or unwinding one or more derivative transactions with respect to shares of common stock and/or purchasing or selling shares of common stock or other securities of the Company in secondary market transactions at any time following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes. These activities could also cause or avoid an increase or a decrease in the market price of the common stock or the Convertible Notes, which could affect the ability to convert the Convertible Notes and, to the extent the activity occurs following conversion or during any observation period related to a conversion of Convertible Notes, it could affect the amount and value of the consideration that noteholders will receive upon conversion of the Convertible Notes.
About DeFi Development Corp.
DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.
The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.
The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," strategy," "future," "likely," "may,", "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company’s SOL are carried on its balance sheet; (ii) the effect of and uncertainties related the ongoing volatility in interest rates; (iii) our ability to achieve and maintain profitability in the future; (iv) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (v) changes in the accounting treatment relating to the Company’s SOL holdings; (vi) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (viii) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (ix) other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Investor Contact:
ir@defidevcorp.com
Media Contact:
Prosek Partners
pro-ddc@prosek.com
FAQ
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