Oh, the wonders of DeFi Development Corp.! They’ve gone and bought 407,247 Solana tokens-like a sly fox hoarding acorns in a giant chocolate factory!
Public Company DeFi Dev Corp. Now Holds $371M in 🍫Solana
On Thursday, DeFi Development Corp. (Nasdaq: DFDV) revealed it gobbled up 407,247 🧙♂️solana (SOL) at an average price of $188.98 per token. This is like filling a treasure chest with digital gold, and now their reserves are 29% bigger than a grumpy troll’s hoard! 🚀
The purchase is a 29% leap from its previous balance of 1,420,173 🧙♂️SOL equivalents. At current market values, the company’s total 🧙♂️SOL holdings are worth approximately $371 million. DeFi Dev Corp. said over $40 million in net proceeds from the raise remains available for future 🧙♂️Solana purchases and other “treasury operations.” 🎩
Like its other purchases, the newly acquired 🧙♂️SOL will be held long-term and staked to generate yield. The company plans to use a variety of validators, including its own infrastructure, to earn staking rewards. 🌟
Key metrics were also released, showing the company has about 21 million shares outstanding. This translates to a SOL-per-share (SPS) ratio of 0.0864, or $17.52 per share based on current valuation. The company noted that on a fully diluted basis, including warrants from the recent financing, the share count would be approximately 31 million. 🍬
It expects the SPS metric to remain above 0.0675 even after full dilution. DFDV shares lifted more than 9% as of 2 p.m. Eastern time on the Nasdaq. 💃
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2025-08-29 02:18