---
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"
generated_at: "2026-05-18T09:19:26.730908+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# DeFi Development Corp. closes $112.5M 5.5% convertible notes offering; $75.6M prepaid forward repurchase

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-061793
- JSON: https://secwatch.observer/filing/0001213900-25-061793.json
- Plain text: https://secwatch.observer/filing/0001213900-25-061793.txt

## Key facts
- Debt Financings
  DeFi Development Corp. incurred convertible notes of $112.5 million with Cantor Fitzgerald & Co. at 5.50% per year maturing July 1, 2030.
  - Instrument: convertible notes
  - Principal: $112.5 million
  - Counterparty: Cantor Fitzgerald & Co.
  - Rate: 5.50% per year
  - Maturity: July 1, 2030
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1805526/000121390025061793/0001213900-25-061793-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.