DeFi Development, formerly known as Janover, has entered into a share purchase agreement with RK Capital Management, granting it the option to issue up to $5 billion in common stock. This equity line of credit (ELOC) allows the company to raise capital incrementally when strategically beneficial.
The company, which is the first U.S. public firm with a treasury strategy focused on accumulating and compounding Solana (SOL) digital assets, intends to use the proceeds from this agreement to increase its SOL holdings and accelerate growth in SOL per share.
“We now have the flexibility and structure we need to scale,” said DeFi Development CEO Joseph Onorati. “This is a clean, strategic path to continue growing SOL per share and compounding validator yield.”
DeFi Development’s core business remains a platform offering data, software subscriptions, and value-added services to multifamily and commercial property professionals. The company announced its name change from Janover in April, alongside a $42 million convertible notes and warrants offering aimed at accelerating digital asset acquisition.
Also in April, leadership from crypto platform Kraken, including Onorati, acquired majority ownership in the company. This team focuses on bridging liquidity between traditional finance (TradFi) and decentralized finance (DeFi).
On June 5, DeFi Development announced a partnership with Amber International Holding, which operates Amber Premium—the institutional cryptocurrency financial services brand. The collaboration covers SOL-denominated treasury acquisitions, structured products, staking, and validator aggregation. Amber Premium may act as a broker for DeFi Development’s treasury purchases.