DeFi Development Corp (DFDV) has announced the issuance of $112.5 million in convertible notes, an increase from an initial plan of $100 million. The firm intends to allocate $75 million of the proceeds towards a prepaid forward stock purchase deal with an investor, while the remainder will be used for corporate purposes, including acquiring more SOL tokens. As of May, DFDV has accumulated over 600,000 SOL as part of its strategy focused on the Solana blockchain. The convertible notes will mature in 2030 at an annual rate of 5.5%, offering investors the option to convert the debt into equity at a premium over the current stock price. An additional $25 million in notes may also be purchased in this offering, set to close on July 7. DFDV shares experienced a drop of 12% in early trading, reflecting a significant decline from their peak earlier in the year, despite a 3,500% increase attributed to the company's pivot to cryptocurrency investment.

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