BlockBeats reported on June 12 that the US-listed company "SOL-based MicroStrategy," DeFi Development Corp (formerly Janover), withdrew its $1 billion shelf offering application due to failure to include a management report on internal controls in its 10-K filing. Part of the funds from the application were originally intended for purchasing Solana (SOL). DDC plans to resubmit the offering in the future.
A shelf offering, also known as a shelf registration, allows companies to register new securities for issuance without being required to immediately sell them in full. Documents indicate that DeFi Development Corp may issue various financial instruments including common stock, preferred stock, warrants, and debt securities.
DeFi Development Corp disclosed that as of the end of May, it held 621,313 SOL, representing a 96% growth compared to the 317,273 SOL it held in April. The value of its SOL holdings reached $97.2 million.
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