DeFi Development Corp, formerly known as Janover, announced on Thursday that it has secured a $24 million private investment in public equity (PIPE) to support its general corporate objectives, including the purchase of additional Solana (SOL) coins.
This strategy also includes staking purchased SOL assets.
DeFi Development Corp., which rebranded in mid-April, is set to accelerate its investment in Solana. As of May 1, the firm held 317,273 SOL worth approximately $46.2 million, including staking rewards.
According to the company's press release, key participants in the PIPE include leading firms such as Galaxy Digital, Amber International Holding Limited, Arrington Capital, Republic Digital, Borderless Capital, RK Capital, and Great Point Capital.
As part of the PIPE deal, DeFi Development Corp. is selling approximately 310,000 shares of common stock at $46 per share and pre-funded warrants for approximately 215,000 additional shares. The company, which is listed on Nasdaq under the ticker JNVR, was priced at $76.36 as of the announcement.
*This is not investment advice.
