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DeFi Development Corp. announced on Thursday that it has successfully raised $24 million through a private investment in public equity (PIPE) deal. The funding will be used to scale the company’s Solana accumulation strategy, a move that highlights its commitment to building a robust position within the Solana ecosystem.

Major Investors Back the Deal

The funding round attracted several high-profile investors, including Galaxy Digital, Arrington Capital, Republic Digital, Borderless Capital, and Amber International Holding Limited. These contributions underscore growing institutional interest in Solana and decentralized finance (DeFi) projects.

As part of the deal, DeFi Development Corp. will issue approximately 310,000 shares and 215,000 pre-funded warrants at $46.00 per share. The company intends to use the net proceeds for general corporate purposes, with a strong emphasis on expanding its Solana (SOL) reserves.

CEO Highlights Transparency and Growth

Joseph Onorati, CEO of DeFi Development Corp., described the fundraising effort as a significant milestone for the company. He emphasized the firm’s goal of becoming a “transparent, crypto-native treasury vehicle” within public markets.

“It enables us to scale our SOL position with speed—while continuing to deliver SOL-per-share growth to our investors,” Onorati stated.

DeFi Development Corp’s Solana Reserve Strategy

As of May 1, the company holds approximately 317,273 SOL, valued at $46.2 million, including staking rewards. By adopting a long-term hold-and-stake strategy, DeFi Development Corp. demonstrates its alignment with the Solana ecosystem and its confidence in the blockchain’s potential for growth.

The company’s stock has seen a dramatic increase of over 1,300% year-to-date, driven largely by its Solana reserve strategy. This surge reflects both market optimism in Solana and the company’s strategic focus on building a crypto-native treasury model.

PIPE Deal Details

The securities tied to the PIPE deal are being issued through a private placement under exemptions from SEC registration. As part of the agreement, DeFi Development Corp. has committed to filing a registration statement to facilitate the resale of these securities. The deal is subject to standard closing conditions, which are expected to be finalized in due course.

By leveraging this new capital, DeFi Development Corp. is well-positioned to strengthen its foothold in the cryptocurrency market while offering enhanced value to its investors.

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