---
schema_version: "secwatch.filing_event.v1"
accession: "0001575872-23-001818"
form_type: "8-K"
ticker: "DFDV"
cik: "0001805526"
company_name: "DeFi Development Corp."
filed_at: "2023-11-22T23:59:59+00:00"
generated_at: "2026-06-07T22:20:38.138070+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Janover acquires Groundbreaker for $1M in stock/cash plus up to $4M earnout

## Summary
- Total purchase price of $1,000,000: $60K cash + $913,346 in stock (1,051,355 shares) plus net working capital adjustment.
- Up to three earnout payments totaling $4,000,000 through December 31, 2026, payable in cash or stock.
- Groundbreaker is a profitable SaaS platform for commercial real estate equity fundraising and investor management.
- Janover expects to convert nearly 15% of its revenue to SaaS subscription revenue with this acquisition.
- Over 13,000 investments and billions in transactions processed on Groundbreaker platform historically.

## SEC filing metadata
- accession: 0001575872-23-001818
- form_type: 8-K
- ticker: DFDV
- cik: 0001805526
- company_name: DeFi Development Corp.
- filed_at: 2023-11-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1805526/000157587223001818/0001575872-23-001818-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1805526/000157587223001818/jnvr-20231116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001575872-23-001818
- JSON: https://secwatch.observer/filing/0001575872-23-001818.json
- Plain text: https://secwatch.observer/filing/0001575872-23-001818.txt

## Key facts
- M&A Transactions
  DeFi Development Corp. completed an acquisition involving Groundbreaker Technologies Inc. for One Million Dollars ($1,000,000) (closed 2023-11-17).
  - Action: acquisition
  - Counterparty: Groundbreaker Technologies Inc.
  - Consideration: One Million Dollars ($1,000,000)
  - Closing: 2023-11-17
  source text: which includes the Company. The consideration paid and payable by Buyer for the Purchased Assets is an aggregate purchase price (the “Purchase Price”) of One Million Dollars ($1,000,000) newly issued shares of the Company’s common stock, par value $0.00001 per share (the “Common Stock”) and cash. Sixty Thousand Dollars ($60,000) of the cash portion of the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000157587223001818/0001575872-23-001818-index.htm
- Material Agreements
  DeFi Development Corp. entered into Asset Purchase Agreement with Groundbreaker Technologies Inc. and Jake Marmulstein valued at One Million Dollars ($1,000,000) (effective 2023-11-17).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Groundbreaker Technologies Inc. and Jake Marmulstein
  - Value: One Million Dollars ($1,000,000)
  - Effective: 2023-11-17
  source text: On November 17, 2023, Janover Inc., a Delaware corporation (the “Company”), and Groundbreaker Tech Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“Groundbreaker” and with the Company, “Buyer”), simultaneously (i) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Groundbreaker Technologies Inc., a Delaware corporation (“Seller”), and Jake Marmulstein (“Marmulstein” or the “Stockholder”), pursuant to which the Company agreed to acquire (the “Acquisition”) substantially all of the assets of the Seller (the “Purchased Assets”) and certain liabilities (where any) related to Seller’s business activities (these business activities are referred to herein as the “Business”) and (ii) closed the Acquisition (the “Closing”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1805526/000157587223001818/0001575872-23-001818-index.htm

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