DeFi Development slides after $100 mln convertible bond sale unveil

DeFi Development

01/07/2025 22:27

** Shares of DeFi Development Corp DFDV.O down 8.6% in extended trading to $19.20 as co looks to raise capital

** Boca Raton, Florida-based fintech built to accumulate crypto token Solana ("SOL") announces private offering of $100 mln 5-yr convertible bonds

** It plans to use portion of net proceeds to repurchase its common stock, remainder for general purposes, including acquisition of SOL SOL=

** In early May, DFDV., formerly Janover, announced ticker symbol change following shift toward a crypto-forward treasury model anchored in Solana

** Co has about $300 mln market cap, per LSEG data

** DFDV shares on Tues closed down 2% at $21.01. Stock has nearly doubled since end of Apr

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))