"SOL version MicroStrategy" DDC suspends $1 billion securities issuance plan due to missing disclosures in the 10-K form
ChainCatcher news, the US-listed company "SOL version of MicroStrategy" DeFi Development Corp (formerly Janover) has withdrawn its $1 billion shelf registration application due to the failure to include management's report on internal controls in the 10-K form. Part of the funds was originally planned for purchasing Solana, and DDC plans to resubmit the offering in the future.Shelf registration, also known as suspended registration, allows companies to register new securities offerings without having to sell them all at once. Documents show that DeFi Development Corp may issue various financial instruments, including common stock, preferred stock, warrants, and debt securities.DeFi Development Corp disclosed that as of the end of May, it held 621,313 SOL, a 96% increase from 317,273 SOL in April, with the SOL holdings valued at $97.2 million.