The "SOL version of MicroStrategy" DDC will receive a $24 million private equity investment to purchase more SOL.

BlockBeats News: On May 1, DeFi Development Corp (formerly known as Janover), a “SOL version of microstrategy,” said on Thursday that it expects to receive a total of $24 million in private equity investments (PIPE), which will help the company fund general corporate purposes, including the purchase of more Solana. Participants in the PIPE include Galaxy Digital, Amber International Holding Limited, Arrington Capital, Republic Digital, Borderless Capital, RK Capital, and Great Point Capital. According to the announcement, as part of the transaction, DeFi Development Corp will sell approximately 310,000 shares of common stock, as well as pre-financing warrants available to subscribe for approximately 215,000 shares of common stock, with an exercise price of approximately $46 per share. The company’s stock is traded on the NASDAQ under the symbol JNVR and shares were trading at $76.36 at press time. Following the completion of the rebranding in mid-April, the PIPE funding will further the company’s expansion of Solana’s treasury strategy – including staking its holdings to earn interest. As of May 1, the company held 317,273 SOL, worth about $46.2 million, including staking rewards.