DeFi Development will raise another $100 million to increase its holdings of SOL and buy back company stock

ChainCatcher news, according to the official announcement from the Nasdaq-listed company DeFi Development Corp. (Nasdaq: DFDV), it will raise $100 million through convertible notes to increase its holdings in SOL and repurchase company stock.

ChainCatcher news, as previously reported, on June 13, DeFi Development Corp. reached a $5 billion equity credit facility agreement with RK Capital Management. This agreement allows DeFi Dev to independently decide to sell shares, subject to meeting certain conditions (such as submitting resale registration documents to the U.S. Securities and Exchange Commission). The company stated that it will submit the required documents soon. This will provide DFDV with the flexibility to raise funds at the most strategically significant time, helping to continuously increase its holdings in SOL and accelerate its "Shares Per SOL" (SPS) growth.