- DeFi Dev Corp. (DFDV, Financial) becomes the largest public Solana treasury holder with 846,630 SOL.
- The latest acquisition of 153,225 SOL was valued at approximately $23.72 million.
- DeFi Dev Corp. plans to stake SOL across various validators to generate yield.
DeFi Development Corp. (DFDV), a publicly traded company on the Nasdaq, has announced a significant purchase of 153,225 Solana (SOL) tokens at an average price of $154.85, bringing the total transaction value to approximately $23.72 million. This acquisition was partially funded by $9.65 million from the exercise of a greenshoe option tied to a previous convertible note offering.
Following this transaction, DeFi Development Corp. now holds a total of 846,630 SOL and SOL equivalents, which are currently valued at around $133.1 million. With this, the company has positioned itself as the largest public holder of Solana, both in terms of total holdings and market capitalization.
The company's strategy involves staking the newly acquired SOL across various validators, including its own Solana validators, to generate native yield through staking rewards. Currently, DeFi Development Corp. has 18,577,134 shares outstanding, resulting in a Solana per Share (SPS) of 0.0456, equivalent to $7.16 per share.
DeFi Development Corp. remains committed to updating its treasury and strategic initiatives through regular public releases and regulatory filings, ensuring transparency and providing investors with direct exposure to Solana's market dynamics.
