Nasdaq Company Accumulating This Altcoin Says Its Net Asset Value per Share May Have More Than Doubled!
DeFi Development Corp. released preliminary estimates projecting that its net asset value per share more than doubled between August 12 and September 30 as it increased its Solana holdings.
According to a company statement reported by The Block, DeFi Development, which trades on Nasdaq under the ticker DFDV, expects its third-quarter preliminary figures to show a double-digit increase in SOL per share and a gain of more than 100% in net asset value per share. The results have not yet been finalized.
Why is the value of assets per share drawing attention?
Net asset value is the value remaining after a company’s liabilities are subtracted from its assets. Calculated per share, it shows how much net asset value corresponds to each share. DFDV’s expectation of more than doubling relates to this metric.
CEO Joseph Onorati said the company’s focus is to ensure that each common share represents more SOL over time. The company also reported that cash and cash equivalents more than doubled during the same period, while its SOL-denominated debt declined.
SOL treasury reaches $302 million
DFDV has added approximately 26,203 SOL since September 28, bringing its total holdings to 2.56 million SOL and SOL equivalents. The statement valued these holdings at approximately $302 million, while the company said its treasury had grown by about 11% since its August 12 update.
In September, the company established a $300 million at-the-market offering program for its CHAD preferred shares to fund additional SOL purchases. The program represents financing capacity available to the company, rather than a completed fundraising transaction.
Plan to grow holdings through financing and yield
DFDV’s approach is built around raising capital, accumulating SOL, earning yield, and increasing the amount of SOL per share. The company also announced that it paid the first dividend on its CHAD shares on October 1.
In early Monday trading cited in the report, DFDV shares were up approximately 2%, while their losses over the past year stood at about 70%. This stock performance is a separate metric from the company’s reported growth in net asset value per share.