DDC Completes $125.000 Million Financing Round, to be Used to Increase Holdings of SOL and Stock Forward Trading Hedges

Solana treasury management company DeFi Development Corp (DFDV) has disclosed the completion of a $112.500 million private placement to purchase $SOL tokens and for other corporate purposes. Approximately $75.600 million of this will be used for a "prepaid forward" equity transaction arrangement to support investors hedging convertible bond risk. The convertible bonds issued have an annual interest rate of 5.5%, mature in 2030, and include a 10% conversion premium. $DDC, previously acquired by former Kraken executives, currently holds over 620,000 $SOL and has ventured into node validation and staking businesses. (The Block)