Janover Inc., a data platform for real estate, undergoes a considerable transformation after a group of former Kraken -executives has acquired a controlling interest.
According to a April 7 rackThe company is a rebranding Defi Development Corporation And the reduction of his focus to decentralized finances, starting with Solana.
Janover explained that it has adopted a new treasury policy that is aimed at digital assets. The first possession of the company is Solana (SOL), and it is planning to acquire validators and steal Sol through them. The income that is earned with deployment are reinvested to increase the SOL reserves.
Under this deal, Janover will continue to operate his nuclear data platform for real estate while it shifts to a Saas model. However, a name and ticker change is expected to reflect this new direction.
In the meantime, Joseph Onorati has been appointed chairman and CEO of the company, while Parker White comes in as CIO and COO. Both are part of the control group behind the acquisition. The board also welcomes Marco Santori, former Chief Legal Officer of Kraken.
The founder of Janover, Blake Janover, and chairman of the Audit Committee, William Caragol, retain their management seats and CFO Bruce Rosenbloom remains involved in the daily operations.
$ 42 million increase
To support the blockchain-oriented direction, Janover has elevated $ 42 million due to a private sale of convertible banknotes and warrants.
According to the company, investors in this Raise include large crypto-oriented risk capital players such as Pantera Capital, Kraken and Arrington Capital, as well as various angelic schatters.
The convertible banknotes, issued at $ 0.00001 per share, have an annual interest rate of 2.5%, paid quarter and adult in April 2030.
Investors can previously convert as Janover’s Market Cap $ 100 million reached, with a minimum conversion price of $ 4.81.
In addition, Warrant holders can buy 8,333 shares of ordinary shares for $ 120 per sanded $ 1,000 and 6.666 shares priced at $ 150 each.
Funds of the raise go directly to the acquisition of digital assets, starting with Solana.
After the announcement, the shares of Janover rose nearly 300% in pre-market trade, which indicates strong market support for the new direction of the company.
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