DeFi Development Corp. (formerly Janover Inc.) is on a roll! The real estate software firm-turned-crypto holding company just announced a 7-for-1 stock split, and it’s happening later this month on May 20. This bold move follows a frenetic shift into the Solana blockchain ecosystem, sparking an insane rally in the company’s share price.
Stock Split Details
Here’s how the split works: shareholders of record as of May 19 will get six additional shares for each share they hold. This will bump outstanding shares from around 2 million to over 14 million. But don’t worry, the company said, their authorized share count won’t change.
The company's transformation into crypto was launched in April when they embraced a digital asset treasury strategy, emphasizing long-term accumulation beginning with Solana. They even changed their name from Janover to DeFi Development Corp. to align with their new crypto strategy. DeFi Dev Corp. is now trading on Nasdaq under the ticker DFDV.
A Skyrocketing Stock Price
And about that stock price? Well, shares have shot up over 1,700% in just a month. They closed down 3% on Wednesday, sitting at $79.31.
This surge follows the company’s announcement of a new treasury strategy built around Solana, which includes buying more than 400,000 SOL tokens, worth about $58 million, and acquiring a validator business with 500,000 SOL in delegated stake.
As part of their mission to scale SOL accumulation and validator ownership, DeFi Dev Corp. said the stock split will enhance liquidity and make DFDV more accessible.
Validator Infrastructure and Cash Flow
And let’s not forget the $3.5 million validator acquisition, mostly paid in restricted stock. This was all disclosed just one day before the firm revealed another $11.2 million SOL purchase. Executives say the validator infrastructure offers protocol-native cash flow, aligning the company even more closely with decentralized networks. Looks like DeFi Dev Corp. is staking its claim in the crypto world!
HODL Team
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