"SOL-based MicroStrategy" DDC submitted documents to the SEC to raise $1 billion in the future.

On April 26, DeFi Development Company (ticker: JNVR), a U.S.-listed company known as "Solana's MicroStrategy", filed a $1 billion shelf offering application with the SEC on Friday. The so-called shelf issuance (also known as holding registration) allows a company to register for the issuance of new securities without immediately offering them in full. The company, which just changed its name from Janover this week, could issue a variety of financial instruments such as common stock, preferred stock, warrants, debt securities, and more, according to the filing. "We may issue in multiple tranches, either individually or in combination, at a price and terms determined at the time of the offering, for gross proceeds of up to $1 billion." The company writes in the filing. The specific timeline for the shelf issuance is currently unclear and is subject to SEC approval. DeFi Development Company is one of many publicly traded companies that have recently deployed Solana. Similar to institutions such as Sol Strategies, Upexi, and Galaxy Digital, the company provides investors with an alternative investment channel in cryptocurrencies by purchasing SOL tokens. Among them, DDC and Sol Strategies operate both validator nodes and participate in staking, thereby converting their holdings into interest-bearing assets. DDC's main business, inherited from Janover, is a "SaaS service platform" for commercial real estate debt financing. The company entered the crypto space last year by accepting payments for BTC, ETH and SOL, and earlier this year hired a former CEX executive to lead the transformation. Currently, the company holds approximately $34.4 million worth of SOL tokens. Its stock, JNVR, was up nearly 5% on the day.