DeFi Development Announces Pricing Of $112.5 Mln Offering Of 5.5% Convertible Senior Notes

(RTTNews) - DeFi Development Corp. (DFDV), Wednesday announced the pricing of its upsized private offering of $112.5 million aggregate principal amount of 5.5 percent convertible senior notes due 2030.

The company expects that the net proceeds from the offering will be about $108.1 million. Of this, it intends to use around $75.6 million to fund a prepaid forward stock purchase transaction in connection with the offering and the remainder for general corporate purposes, including the acquisition of SOL.

Moreover, the company has granted the initial purchasers an option to purchase, for settlement within a 7-day period beginning on, and including the date on which the convertible notes are first issued, up to an additional $25 million aggregate principal amount.

The offering is expected to close on July 8.

In the pre-market hours, DFDV is trading at $20, down 4.81 percent on the Nasdaq.