DeFi Development Corp. announced the completion of a $112.5 million convertible notes placement aimed at strengthening its treasury strategy related to Solana assets.
Convertible Notes Placement
DeFi Development Corp. has finalized a $112.5 million convertible notes placement due 2030, driven by strong investor interest. The offering was increased from the initial $100 million. A significant portion of the funds will be used to acquire additional SOL tokens.
Solana Price Stays Stable
Despite recent market volatility, the price of Solana remains above $150, indicating stability and maintaining investor confidence. Following the notes announcement, SOL's price surged by 6%, reaching $153 with a market capitalization of $81.9 billion.
Expansion of Treasury Models
DeFi Development Corp. is part of a growing trend among companies focused on Solana. Other entities, such as Sol Strategies and Upexi, are also launching treasury initiatives related to Solana. These models are becoming relevant due to token price stability and increasing institutional investor interest.
This initiative by DeFi Development Corp. illustrates a sustained interest in Solana and emphasizes the importance of treasury strategies for public companies in the current market landscape.
