Defi Development Corp. (DFDV), the Nasdaq-Genten company that pursues a Solana
SOL$ 156.99
Treasury strategy is planning to get a little more dry powder to increase its SOL pile.
According to a press release on Thursday, the company has secured a $ 5 billion credit line with RK Capital Management. The Agreement enables Defi DEV to sell shares to its own discretion, as long as it meets conditions such as submitting a resale registration to the US Securities and Exchange Commission. The company said it is planning to submit the necessary paperwork soon.
“We now have the flexibility and structure that we have to scale,” says Joseph Onorati, Chief Executive Officer. “This is a clean, strategic path to continue to grow Sol per share and the proceeds from the validator.”
DFDV shares recovered from early losses and increased by 12% during the Thursday session.
The company, previously known as real estate tech platform Janover, is part of a growing trend of listed companies that raise money by selling shares and debts to add cryptocurrencies to their balance, after the playbook of the strategy with Bitcoin
BTC$ 107,063.04
.
The company focuses on Solana and collects the native token of the network and operational validators. It contained more than 609.00 Sol -Tokens from 16 May, worth $ 96 million at the current prices.
The last step comes shortly after the company had entered an earlier application for a share sale of $ 1 billion, with plans to be restored again.
