[8-K] Janover Inc. Reports Material Event

Rhea-AI Filing Summary

On 31 Jul 2025, SKYX Platforms Corp. (Nasdaq: SKYX) filed a Form 8-K to furnish (not file) a press release dated the same day (Exhibit 99.1). The release contains preliminary, unaudited revenue for Q2 2025 (three months ended 30 Jun 2025) and a general business update, but no numerical figures are included in the 8-K itself.

Management emphasizes that the numbers remain subject to normal closing, internal review and external audit; final results could differ materially. Item 8.01 incorporates the Item 2.02 disclosure, and the exhibit is excluded from Section 18 liability because it is furnished. No other material events, transactions, or guidance changes are reported. Investors must await the forthcoming Form 10-Q for definitive financial statements.

Insights

Financial Analyst

TL;DR: SKYX furnishes Q2 prelim revenue press release; no metrics, thus neutral impact.

The 8-K merely notifies investors that a press release with unaudited Q2 2025 revenue has been issued. Because the filing omits actual figures, it offers little basis for valuation adjustment. The disclosure’s “furnished” status limits legal liability and signals that management will release audited numbers in the upcoming 10-Q. Absent quantitative detail, I view the market impact as neutral; catalysts will hinge on the eventual revenue magnitude and margin commentary.

Risk Analyst

TL;DR: Preliminary data may change; investors face revision risk but no immediate red flags.

The company warns that preliminary results could be materially adjusted during the close and audit. While common, this caveat highlights potential volatility if final numbers disappoint. However, the filing discloses no adverse events, compliance issues, or liquidity concerns. Overall disclosure risk is low and typical for a furnished 8-K; classification: not impactful until figures surface.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 25, 2025

DEFI DEVELOPMENT CORP.

(Exact name of registrant as specified in its charter)

Delaware		001-41748		83-2676794
(State or other jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification Number)

6401 Congress Avenue, Suite 250 Boca Raton, Florida		33487
(Address of registrant’s principal executive office)		(Zip code)

(561) 559-4111

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.00001 per share		DFDV		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On July 25, 2025, DeFi Development Corp. (the “Company”), entered into a master loan agreement (the “Agreement”) with BitGo Hong King Limited (“Lender”). The Agreement creates a framework under which the Company may borrow digital assets or cash from Lender from time to time. Each loan is documented in a separate loan request agreed to by the parties setting forth the specific terms, including principal amount, fees, collateral requirements, and the date on which the loan is to commence and mature. 

The loan fee, effectively the interest rate on the borrowed amounts, is to be determined for each loan and is calculated on a daily basis at the annualized rate specified in each confirmation. 

Each loan may have a fixed term, or may include a call option or prepayment option, as specified in each loan request. In general, either party can terminate a loan by providing notice within the time frame set forth in the Agreement. Upon termination, the borrowed digital assets or cash must be returned, and the related collateral released. 

Borrowings under the Agreement are secured by collateral in favor of the Lender. Collateral may include Solana, cash or other forms agreed upon by the Parties. The collateral’s required value is typically higher than the borrowed amount, subject to margin calls as set forth in the Agreement. If the value of posted collateral falls below the margin call threshold, the Company must promptly post additional collateral. Failure to maintain sufficient collateral can result in an event of default and remedies available to the Lender, including the right to liquidate pledged collateral. 

The Agreement contains representations and warranties and affirmative and negative covenants customary for financings of this type, as well as customary events of default. 

The foregoing is a summary of the material terms of the Agreement, and it is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 and incorporated herein by reference.  

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

Loan Request

On July 25, 2025, the parties agreed to a loan request for 75,000 Solana at a loan fee amount of 12.5% per annum and a maturity date of November 25, 2025. The loan shall be collateralized by the Company’s treasury assets (including Solana) at a 250% collateral level and a margin call level of 200%.

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

No.		Description
10.1		Master Loan Agreement, dated July 25, 2025, between DeFi Development Corp. and BitGo Hong Kong Limited
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	DeFi Development Corp.
Date: July 31, 2025	By:	/s/ Joseph Onorati
		Joseph Onorati Chief Executive Officer

2

FAQ

What did SKYX (SKYX) announce in its 8-K dated July 31, 2025?

The company furnished a press release with preliminary, unaudited Q2 2025 revenue and a business update.

Are the preliminary Q2 2025 revenue figures included in the 8-K?

No. The filing references the figures but does not disclose actual amounts.

When will SKYX publish final Q2 2025 financial statements?

Final numbers are expected in the company’s upcoming Form 10-Q for the period ending June 30, 2025.

What exhibit number contains the press release?

The press release is filed as Exhibit 99.1 to the Form 8-K.

Does the furnished press release carry Section 18 liability?

No. Because it is furnished, not filed, it is exempt from Section 18 liability under the Exchange Act.