DeFi Development Enters $5 Bln Equity Line Of Credit With RK Capital Management

(RTTNews) - DeFi Development Corp. (DFDV) Thursday said it has entered into a share purchase agreement (ELOC) with RK Capital Management LLC.

Under the agreement, the company will have the right to issue and sell up to $5 billion of its shares to RK Capital.

DeFi plans to use the proceeds to accumulate Solana and accelerate growth in SOL per share.

"Unlike other equity offerings, an ELOC enables DeFi Development Corp. to raise capital gradually, when its strategically advantageous, rather than locking in one-time pricing during volatile markets," the company said in a statement.