DeFi Development Corp. plans $1B securities sale to buy more Solana

DeFi Development Corp., formerly known as Janover, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to offer up to $1 billion in securities.

The company intends to use the proceeds for general corporate purposes, including the acquisition of Solana (SOL) tokens, as part of its strategy to build a Solana-focused treasury. ​

Moreover, as proof of its commitment to a treasury strategy centered on Solana, the company has invested $48.2 million.

Under new leadership, the company has adopted a treasury policy centered around Solana. The board approved this policy on April 4, 2025, authorizing the long-term accumulation of SOL. ​

DeFi Development to cope with the current trend of purchasing SOL 

The former commercial real estate lending tech platform, DeFi Development, disclosed in a filing to the Securities and Exchange Commission that it will invest the funds in general corporate purposes – potentially including the purchase of Solana.

DeFi Development intends to offer and sell various securities, including common stock, preferred stock, debt securities (which could be issued in one or more series and maybe senior or subordinated), warrants to purchase shares of common stock, preferred stock, or debt securities, units containing any of these securities, and rights to buy shares, preferred stock, debt securities, or units.

Moreover, in order to generate staking rewards, DeFi Development intends to run validators on the Solana blockchain, having already purchased about $48.2 million worth of SOL.

SOL Strategies, a publicly traded company led by CEO Leah Wald, a co-founder of digital asset advisory Valkyrie Investments, is leading the move.

DeFi Development implemented a treasury strategy focused on Solana as part of its new course. Along with the $1 billion shelf registration, the firm also submitted a registration application for 1.24 million shares on behalf of early investors, such as Arrington Capital, Payward (Kraken’s parent company), and Pantera Capital.

Notably, this results from the company’s recent trend of purchasing SOL for their balance sheets more frequently to give TradFi investors exposure to the token, taking a cue from Michael Saylor’s Bitcoin purchasing strategy.

The company’s active participation in Solana’s network through validator operations and staking could influence both the token’s price and its adoption within the decentralized finance space.

DeFi Development undergoes a significant leadership change

DeFi Development also marked another milestone when the company recently revealed that it had obtained a convertible note facility worth up to $500 million to increase its investments in the Solana network. 

The new product from DeFi Development follows a major leadership change that occurred earlier this month. Joseph Onorati, a former Kraken executive, became the new chairman and CEO, and Parker White, another former Kraken engineer, was appointed chief investment officer and chief operating officer.

Furthermore, the business appointed John Han, a former executive from Binance and Kraken, as its chief financial officer. 

Following the leadership change, DeFi Development Corp.’s stock surged more than 970%, increasing by about 4% to $54 per share in Friday’s after-hours trading.

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