DeFi Development Corp to Split Stock 7-for-1 After Crypto-Fueled Rally
Summary
DeFi Development Corp. will execute a 7-for-1 stock split on May 20, increasing outstanding shares from 2 million to over 14 million while maintaining the authorized share count. The company, formerly Janover Inc., has pivoted to the Solana blockchain ecosystem, leading to a 1,700% surge in its share price. It adopted a digital asset treasury strategy focused on Solana, purchasing over 400,000 SOL and acquiring a validator business with 500,000 SOL in delegated stake. The $3.5 million validator acquisition was paid mainly in restricted stock, and an additional $11.2 million SOL purchase was disclosed.
