UPDATE: DeFi Development Announces $24M Private Placement Of ~310,000 Shares Of Its Common Stock And Pre-Funded Warrants To Purchase An Aggregate Of ~215,000 Shares Of Its Common Stock, In Each Case At A Purchase Price Of $46.00 Per Share

DeFi Development Corp. (NASDAQ:JNVR) ("DeFi Dev Corp" or the "Company") today announces that it has entered into a securities purchase agreement for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds of approximately $24 million to the Company, before placement agent fees and offering expenses. Investors include Galaxy Digital, Amber International Holding Limited (NASDAQ:AMBR), Arrington Capital, Republic Digital, Borderless Capital, RK Capital, and Great Point Capital.

Pursuant to the terms of the securities purchase agreement, the Company is selling an aggregate of approximately 310,000 shares of its common stock and pre-funded warrants to purchase an aggregate of approximately 215,000 shares of its common stock, in each case at a purchase price of $46.00 per share. Net proceeds are expected to be used for general corporate purposes, including to be deployed toward continued accumulation of Solana (SOL).