DDC submits documents to SEC to raise $1 billion in future funding for 'SOL version of micro strategy'

According to BlockBeats, on April 26th, DeFi Development Company (stock code: JNVR), also known as Solana's MicroStrategy, submitted a $1 billion shelf issuance application to the SEC on Friday. The so-called shelf issuance (also known as temporary registration suspension) allows companies to register for new securities issuance qualifications without the need for immediate full issuance. The document shows that this company, which just changed its name from Janover this week, may issue various financial instruments such as common stock, preferred stock, warrants, debt securities, etc. We may issue in multiple installments, either individually or in combination, at a price and terms to be determined at the time of sale, with a total fundraising amount not exceeding $1 billion, "the company wrote in the filing. The specific timeline for the issuance of this storage rack is currently unclear and requires approval from the SEC. DeFi Development Company is one of the many listed companies that have recently laid out Solana. Similar to institutions such as Sol Strategies, Upexi, and Galaxy Digital, the company provides investors with an alternative investment channel for cryptocurrencies by purchasing SOL tokens. Among them, DDC and Sol Strategies simultaneously operate verification nodes and participate in staking, thereby converting their held tokens into interest bearing assets. DDC's main business inherited from Janover is a "SaaS service platform" for commercial real estate debt financing. The company began accepting BTC, ETH, and SOL payment service fees to enter the cryptocurrency field last year, and hired a former Kraken executive to lead the transformation earlier this year. At present, the company holds SOL tokens worth approximately $34.4 million. Its stock JNVR rose nearly 5% on the same day.