SILICON VALLEY, June 17, 2025: Morgan Lewis represented RK Capital Management LLC as the investor in an equity line of credit (ELOC) for DeFi Development Corp., the first US public company to implement a treasury strategy designed to accumulate and compound Solana, a high-performance blockchain platform offering faster and more scalable decentralized applications. Under the terms of the ELOC, DeFi Development will have the right to issue and sell up to $5 billion in shares of its common stock to RK Capital, subject to customary conditions, including an effective registration statement for resale.
RK Capital Management is an investment management company that invests its own capital alongside its clients in quantitative trading strategies. DeFi Development operates an AI-powered platform that engages across decentralized finance (DeFi) opportunities and explore innovative ways to support and benefit from Solana’s expanding application layer.
Partner Albert Lung and associates David Bionghi, Lixin Ayrik, and Olivia Huang advised RK Capital.