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DeFi Development Corp. (NASDAQ:DFDV) (the "Company") the first public company with a treasury strategy built to accumulate and compound Solana ("SOL"), today announced that its Board of Directors has approved an increase to the Company's existing stock repurchase program. The authorization has been expanded from $1 million to up to $100 million of the Company's common stock.
The repurchase program authorizes the Company to buy back shares of its common stock from time to time on the open market in accordance with Rule 10b-18 of the Securities Exchange Act of 1934 and other applicable laws and regulations. Repurchases may be made at management's discretion, subject to market conditions and corporate and regulatory requirements.
The Company noted that the repurchase authorization provides flexibility to repurchase up to $100 million of common stock, with an initial $10 million threshold requiring management to update the Board prior to executing additional purchases. All shares repurchased will be retired and returned to the status of authorized but unissued shares or held as treasury stock.
The timing, method, and amount of any repurchases will be determined by management based on its evaluation of market conditions and other factors. The repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be modified, suspended, or discontinued at any time.
Posted In: DFDV
