{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-061793","form_type":"8-K","ticker":"DFDV","cik":"0001805526","company_name":"DeFi Development Corp.","filed_at":"2025-07-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.055474+00:00","generated_at":"2026-05-18T09:19:26.730908+00:00","sec_items":["1.01","2.03","3.02","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"DeFi Development Corp. closes $112.5M 5.5% convertible notes offering; $75.6M prepaid forward repurchase","bullets":["Raised $112.5M in 5.5% convertible senior notes due 2030, upsized from originally planned $100M.","Initial conversion price $23.11 per share, ~10% premium to $21.01 closing price on July 1.","Net proceeds ~$108.1M; used $75.6M for a prepaid forward stock purchase of ~3.6M shares.","Remainder of proceeds for general corporate purposes including acquisition of Solana (SOL).","Notes not redeemable before July 5, 2026; redeemable thereafter if stock price ≥150% of conversion price."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-061793","json":"https://secwatch.observer/filing/0001213900-25-061793.json","markdown":"https://secwatch.observer/filing/0001213900-25-061793.md","text":"https://secwatch.observer/filing/0001213900-25-061793.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805526/000121390025061793/0001213900-25-061793-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805526/000121390025061793/ea0248227-8k_defi.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T09:19:26.730908+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"604f3ebe5d7888e8f2a47ff642da5f9f1000cfa2","claim":"DeFi Development Corp. incurred convertible notes of $112.5 million with Cantor Fitzgerald & Co. at 5.50% per year maturing July 1, 2030.","evidence_excerpt":"institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of notes sold in the offering was $112.5 million. In addition, the Company granted the Initial Purchasers an option to purchase up to an additional $25,000,000 million aggregate principal amount of notes. The notes were issued","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1805526/000121390025061793/0001213900-25-061793-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$112.5 million"},{"label":"Counterparty","value":"Cantor Fitzgerald & Co."},{"label":"Rate","value":"5.50% per year"},{"label":"Maturity","value":"July 1, 2030"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}