09:17 AM EDT, 08/25/2025 (MT Newswires) -- DeFi Development Corp. ( DFDV ) said Monday it has signed subscription agreements to raise $125 million in a stock and warrants offering.

Under the agreements, the company will sell about 4.2 million shares at $12.50 per share and pre-funded warrants to buy 5.7 million shares at $12.4999 apiece. The warrants can be exercised at $0.0001 per share, the company said.

DeFi said it will receive a combination of cash and locked Solana cryptocurrency, also known as SOL, as consideration.

Net proceeds from the offering will be used to purchase spot SOL and discounted locked SOL, the company said.

Shares of the company were down 13.4% in recent Monday premarket activity.