DeFi Technologies Secures US$100 Million in Oversubscribed Offering

Overview of the Offering

DeFi Technologies Inc. (NASDAQ: DEFT) is thrilled to announce a successful securities purchase agreement resulting in a substantial US$100 million offering. This offering not only demonstrates strong institutional interest but also underlines the company's effective positioning at the intersection of traditional finance and decentralized finance (DeFi).

Details of the Agreement

As part of the agreement, numerous respected institutional investors, spearheaded by Galaxy Digital (NASDAQ: GLXY), have committed to acquiring a total of 45,662,101 shares of common stock. They will also receive warrants to purchase an additional 34,246,577 shares at a combined purchase price of US$2.19 per share.

Warrant Insights

The associated warrants come with an exercise price set at US$2.63 per share, indicating a notable 120% premium over the offering price. These warrants will be available for exercise immediately upon issuance and will expire in three years, with provisions for acceleration based on share price movements and other considerations.

Expectations for Closing

The completion of the offering is anticipated soon, pending the satisfaction of standard closing requirements, including essential regulatory approvals. This includes validations from the Cboe Canada Exchange and notifications to the Nasdaq Capital Market Exchange.

Placement Agent Details

Joseph Gunnar & Co., LLC is acting as the exclusive placement agent in connection with this offering. Their expertise will support the successful execution of this capital raise.

Use of Proceeds

The estimated gross proceeds to the company will amount to US$100 million before any deductions for placement agent fees and other associated costs. The company plans to utilize the funds raised for general corporate purposes, predominantly to fortify its working capital.

Base Shelf and Registration Statement

This offering follows the company's established short form base shelf prospectus, filed with relevant Canadian authorities and the U.S. Securities and Exchange Commission (SEC) as part of the Multijurisdictional Disclosure System (MJDS).

About DeFi Technologies

DeFi Technologies Inc. is dedicated to merging conventional capital markets with decentralized finance. The company provides investors with varied exposure to the expanding decentralized economy through its multifaceted business model. This spectrum includes Valour, which grants access to digital assets through regulated Exchange-Traded Products (ETPs); Stillman Digital, focusing on institutional-grade execution and custody services for digital assets; and Reflexivity Research, which delves into comprehensive research in the digital asset sector.

Future Prospects

With an eye towards growth, DeFi Technologies remains committed to enhancing its digital asset offerings and developing innovative financial solutions. As the decentralized finance landscape evolves, the company is well-positioned to leverage these advancements for future success.

Frequently Asked Questions

What is DeFi Technologies?

DeFi Technologies Inc. is a financial technology company that bridges traditional capital markets with decentralized finance solutions.

What recent funding has DeFi Technologies secured?

DeFi Technologies has successfully raised US$100 million through a registered direct offering oversubscribed by institutional investors.

Who acted as the placement agent for the offering?

Joseph Gunnar & Co., LLC served as the exclusive placement agent for this offering.

How will the proceeds from the offering be used?

The proceeds will primarily enhance the company’s working capital and support general corporate purposes.

Where can I stay updated on DeFi Technologies' financial products?

For the latest updates, interested parties can monitor the company's communications and regulatory filings, which will be available through various financial platforms.

About The Author

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