DeFi Development Corp (formerly Janover) aims to raise over $1 billion worth of capital to invest in Solana, the industry’s sixth-largest cryptocurrency by market capitalization.
The Nasdaq-listed firm, previously a real estate financing platform connecting commercial property lenders and buyers, announced its plans in a Form S-3 registration statement filed with the US Securities and Exchange Commission (SEC) on April 25.
The filing states that the funds will be used for general corporate purposes, including Solana (SOL) token acquisitions.
DeFi Development Corp S-3 filing. Source: SEC
According to the filing, the company may use proceeds from the offering to purchase more Solana, noting:
“Solana does not pay interest, but staking rewards can be earned on Solana. The ability to generate a return on investment from the net proceeds from this offering will depend on whether there is appreciation in the value of Solana following