--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-25-029172" form_type: "8-K" ticker: "DFDV" cik: "0001805526" company_name: "DeFi Development Corp." filed_at: "2025-04-07T23:59:59+00:00" generated_at: "2026-05-23T19:50:02.420151+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # Janover raises $42M convertible notes, new CEO Onorati, adopts Solana treasury after control change ## Summary - Raised ~$42M via 2.5% convertible notes due 2030 with warrants; conversion requires $100M market cap. - Blake Janover sold 51% of common stock and all Series A Preferred to Defi Dev LLC and NS Corp for $4M. - Joseph Onorati appointed Chairman & CEO; Marco Santori, Zachary Tai join board; Parker White named COO & CIO. - Board approved including Solana (SOL) as treasury asset; company plans validator operations and DeFi strategies. - Three prior directors resigned; Blake Janover becomes Chief Commercial Officer. ## SEC filing metadata - accession: 0001213900-25-029172 - form_type: 8-K - ticker: DFDV - cik: 0001805526 - company_name: DeFi Development Corp. - filed_at: 2025-04-07T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.01, 2.03, 3.02, 5.01, 5.02, 7.01, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/ea0237322-8k_janover.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-25-029172 - JSON: https://secwatch.observer/filing/0001213900-25-029172.json - Plain text: https://secwatch.observer/filing/0001213900-25-029172.txt ## Key facts - Executive change Joseph Onorati was elected as Director at DeFi Development Corp.. - Action: elected - Role: Director source text: On April 4, 2025, the Board elected each of Joseph Onorati, Marco Santori and Zachary Tai as directors of the Company, to fill the vacancies on the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Ned Siegel resigned as Director at DeFi Development Corp.. - Action: resigned - Role: Director source text: Effective as of April 4, 2025, Samuel Haskell, Marcelo Lemos and Ned Siegel resigned from the Board and, to the extent applicable, all committees thereof. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Joseph Onorati was appointed as Chief Executive Officer at DeFi Development Corp.. - Action: appointed - Role: Chief Executive Officer source text: - Mr. Onorati was appointed by the Board as the chief executive officer of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Blake Janover was appointed as Chief Commercial Officer at DeFi Development Corp.. - Action: appointed - Role: Chief Commercial Officer source text: - Blake Janover, former CEO of the Company, was appointed by the Board as the chief commercial officer of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Marcelo Lemos resigned as Director at DeFi Development Corp.. - Action: resigned - Role: Director source text: Effective as of April 4, 2025, Samuel Haskell, Marcelo Lemos and Ned Siegel resigned from the Board and, to the extent applicable, all committees thereof. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Zachary Tai was elected as Director at DeFi Development Corp.. - Action: elected - Role: Director source text: On April 4, 2025, the Board elected each of Joseph Onorati, Marco Santori and Zachary Tai as directors of the Company, to fill the vacancies on the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Marco Santori was elected as Director at DeFi Development Corp.. - Action: elected - Role: Director source text: On April 4, 2025, the Board elected each of Joseph Onorati, Marco Santori and Zachary Tai as directors of the Company, to fill the vacancies on the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Parker White was appointed as Chief Operating Officer and Chief Investment Officer at DeFi Development Corp.. - Action: appointed - Role: Chief Operating Officer and Chief Investment Officer source text: - Parker White was appointed by the Board as the chief operating officer and chief investment officer of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - Executive change Samuel Haskell resigned as Director at DeFi Development Corp.. - Action: resigned - Role: Director source text: Effective as of April 4, 2025, Samuel Haskell, Marcelo Lemos and Ned Siegel resigned from the Board and, to the extent applicable, all committees thereof. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm - M&A Transactions DeFi Development Corp. underwent a change of control involving Defi Dev LLC and 3277447 Nova Scotia Ltd for $4,000,000 (closed 2025-04-04). - Action: change of control - Counterparty: Defi Dev LLC and 3277447 Nova Scotia Ltd - Consideration: $4,000,000 - Closing: 2025-04-04 source text: shares of common stock and 4,500 shares of Series A Preferred Stock for $1,744,662 utilizing funds contributed by its controlling stockholder. The aggregate purchase price was $4,000,000. The transactions under the Purchase Agreement constitute a change in control of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025029172/0001213900-25-029172-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.