The publicly listed company DeFi Development Corp will receive a $24 million private equity investment to purchase more SOL
ChainCatcher news, according to The Block, Nasdaq-listed DeFi Development Corp (formerly Janover) announced on Thursday that it expects to receive a total of $24 million in a private equity investment (PIPE), which will help the company fund general corporate purposes, including purchasing more Solana. Participants in this PIPE include Galaxy Digital, Amber International Holding Limited, Arrington Capital, Republic Digital, Borderless Capital, RK Capital, and Great Point Capital.The announcement stated that as part of the transaction, DeFi Development Corp will sell approximately 310,000 shares of common stock, as well as pre-funding warrants to purchase about 215,000 shares of common stock at an exercise price of approximately $46 per share. The company's stock is traded on the Nasdaq under the ticker symbol JNVR, and as of the time of writing, the stock price is $76.36.Following a rebranding completed in mid-April, this PIPE financing will further propel the company's strategy to expand its Solana treasury— including staking its holdings for yield. As of May 1, the company holds 317,273 SOL, valued at approximately $46.2 million, which includes staking rewards.