Publicly Traded Solana Treasury Company Wants to Stack Another $5 Billion in SOL
DeFi Development Corp. has secured a $5 billion equity line of credit with RK Capital, allowing the company to issue and sell shares of common stock as needed. CEO Joseph Onorati emphasized the flexibility of this arrangement, which avoids high-leverage or short-term debt, protecting long-term shareholders. Proceeds from share sales will be used to purchase Solana, with the firm aiming to raise capital only when it benefits the value of SOL per share. Since adopting its Solana treasury strategy in April, DeFi Development Corp. has acquired nearly $100 million in SOL and established a stronger presence in the Solana ecosystem, including acquiring a validator business and partnering with the BONK community. DFDV shares rose 21% on the day and 115% for the week, while Solana's price fluctuated. The firm recently withdrew a $1 billion fundraising registration with the SEC.
