DeFi Development Corp to Split Stock 7-for-1 After Solana-Fueled Rally

In brief The company will issue six additional shares per existing share, effective May 20. Its stock has surged from under $4 to over $70 in one month amid a crypto pivot. The firm holds $58 million in SOL and recently acquired a validator business. DeFi Development Corp., a publicly traded real estate software firm turned crypto holding vehicle, said Wednesday it will execute a 7-for-1 stock split later this month, capping a frenetic pivot into the Solana blockchain ecosystem that has fueled a staggering rally in its share price. The split, approved by the board and pending regulatory steps, will take effect May 20. Shareholders of record as of May 19 will receive six additional shares for each share they hold, increasing outstanding shares from roughly 2 million to over 14 million. The company said in a statement that its authorized share count will remain unchanged. In April, the company adopted a digital asset treasury strategy focused on long-term accumulation, beginning with Solana. It later rebranded from Janover to DeFi Development Corp. to reflect its shift toward crypto-focused operations. DeFi Dev Corp. trades on Nasdaq under the ticker DFDV. Shares of the firm—formerly known as Janover Inc.—have soared more than 1,700% in just over a month, closing down 3% on Wednesday to $79.31. The move follows DeFi Dev Corp.’s announcement of a new treasury strategy centered on Solana, including the purchase of over 400,000 SOL, now worth around $58 million, and the acquisition of a validator business with 500,000 SOL in delegated stake. “The split is part of an effort to enhance liquidity and make DFDV more accessible as part of our mission to scale SOL accumulation and validator ownership,” the company posted Wednesday on X. The $3.5 million validator acquisition was mainly paid in restricted stock and came one day before the firm disclosed an additional $11.2 million SOL purchase. Executives have said the validator infrastructure provides protocol-native cash flow and deepens alignment with decentralized networks. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Source: https://decrypt.co/318460/defi-development-corp-split-stock-crypto-fueled-rally