DeFi Development (NASDAQ:DFDV) on Wednesday announced a special dividend to be distributed in the form of warrants to holders of the company's common stock as of October 23, 2025.
Each registered stockholder as of the record date will receive one warrant for every ten shares of company common stock held.
Additionally, in lieu of an adjustment to the applicable conversion rate, holders of the company's convertible senior notes due 2030 will receive warrants on an as converted to common stock basis in accordance with the governing indenture.
Also Read: DeFi Development Buys $19 Million In Solana
The company expects to distribute approximately 3.3 million warrants by October 27, 2025.
The warrant will enable the holder to purchase a share of common stock at an exercise price of $22.50, at any time following the Distribution Date, pending the expiry of the warrants on January 21, 2028 (the "Expiration Date").
The transaction provides company stockholders the option to participate in the company's capital raising on a non-dilutive basis.
Assuming the exercise of the warrants in full, the company would receive up to $73.5 million in gross proceeds.
The company plans to utilize the proceeds for general corporate purposes, including the acquisition of SOL and working capital.
On September 24, DeFi Development announced that its board approved a significant expansion of its share repurchase program, increasing the authorization from $1 million to up to $100 million.
In August, DeFi Development posted second-quarter earnings of $0.84 per share — a 4,300% upside surprise versus expectations of a loss — and revenue of $1.99 million, up 350% year-over-year.
Price Action: DeFi Development shares were up 1.31% at $15.45 during premarket trading on Wednesday, according to Benzinga Pro data.
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