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SOL Version MicroStrategy DDC Announces $112.5 Million Financing Details
Summary: Solana reserve strategy company DeFi Development Corp (DDC) (formerly Janover) has disclosed details of its $112.5 million private placement financing for purchasing SOL tokens, including a financial arrangement to hedge risks for investors. The company will use approximately $75.6 million to fund prepaid forward stock purchase transactions, with the remaining funds allocated for general corporate ...
Solana reserve strategy company DeFi Development Corp (DDC) (formerly Janover) has disclosed details of its $112.5 million private placement financing for purchasing SOL tokens, including a financial arrangement to hedge risks for investors. The company will use approximately $75.6 million to fund prepaid forward stock purchase transactions, with the remaining funds allocated for general corporate purposes, including acquiring SOL. According to Wednesday's announcement, the company has secured a total of $112.5 million in convertible note principal - valued at approximately $132.2 million if all options are exercised - expected to be completed on July 7. The notes carry an annual interest rate of 5.5%, paid semi-annually, and will mature in 2030. The notes will also have a 10% conversion premium based on the closing price of $21.01 on July 1, 2025.
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Link: SOL Version MicroStrategy DDC Announces $112.5 Million Financing Details [Copy]
