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"SOL version of MicroStrategy" DDC announces financing details of 112.5 million.
According to BlockBeats, on July 2, Solana's reserve strategy company DeFi Development Corp (DDC), formerly known as Janover, disclosed the details of its $112.5 million private sale financing business for purchasing SOL tokens, which includes a financial arrangement providing investors with a hedging risk method. The company will use approximately $75.6 million to fund "prepaid forward" stock purchase transactions, with the remaining funds used for "general corporate purposes, including acquisition of SOL." According to a Wednesday announcement, the company has secured a total of $112.5 million in convertible note principal—worth approximately $132.2 million if the initial purchasers exercise all options—expected to be completed by July 7. The notes have an annual interest rate of 5.5%, paid semi-annually, and will mature in 2030. The notes will also be based on a closing price of $21.01 on July 1, 2025, with a 10% conversion premium.