"SOL version of MicroStrategy" DDC submits documents to SEC to raise $1 billion in funds in the future

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MarsBit
04-26
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Mars Finance News, on April 26, a publicly listed U.S. company known as "MicroStrategy of Solana", DeFi Development Company (stock code: JNVR), filed a $1 billion shelf registration statement with the SEC on Friday. A shelf registration allows companies to register new securities issuance qualifications without immediately offering the full amount. The filing shows that the company, recently renamed from Janover, may issue various financial instruments including common stocks, preferred stocks, warrants, and debt securities. "We may issue in separate or combined forms multiple times, with the issuance price and terms to be determined at the time of offering, with a total fundraising amount not exceeding $1 billion," the company wrote in the document. The specific timeline for this shelf registration remains unclear and is pending SEC approval. DeFi Development Company is one of many listed companies recently positioning in Solana. Similar to institutions like Sol Strategies, Upexi, and Galaxy Digital, the company provides alternative cryptocurrency investment channels for investors by purchasing SOL tokens. DDC and Sol Strategies simultaneously operate validator nodes and participate in staking, converting their held tokens into interest-bearing assets. DDC, inheriting Janover's main business, is a "SaaS service platform" for commercial real estate debt financing. The company began accepting BTC, ETH, and SOL for service fee payments last year and hired a former Kraken executive to lead its transformation early this year. Currently, the company holds approximately $34.4 million worth of SOL tokens. Its stock JNVR rose nearly 5% that day.

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