DeFi Development, a U.S. public company with a treasury strategy built to accumulate and compound Solana, has entered into a share purchase agreement with RK Capital Management.
Under the ELOC, the company will have the right, but not the obligation, to issue and sell up to $5 billion in shares of its common stock to RK Capital, subject to customary conditions, including an effective registration statement for resale. The company plans to file a registration statement on Form S-1 as soon as practicable to enable access to this facility.
The proceeds from the ELOC are expected to support continued accumulation of SOL and accelerate growth in SOL per share. Unlike other equity offerings, an ELOC enables DeFi Development to raise capital gradually, when it’s strategically advantageous, rather than locking in one-time pricing during volatile markets.
The company also filed a Form S-1 to register securities issued in prior unregistered offerings on June 11, 2025.
“We now have the flexibility and structure we need to scale,” Joseph Onorati, CEO of DeFi, said. “This is a clean, strategic path to continue growing SOL per share and compounding validator yield.”
