Solana treasury company DeFi Development announced approval for a $100 million stock buyback

ChainCatcher news, according to Globenewswire, Solana treasury company DeFi Development Corp. (Nasdaq: DFDV) announced that its board has approved an expansion of the company's existing stock repurchase program.

The authorized amount has been increased from $1 million to a maximum of $100 million in common stock. The company noted that this repurchase authorization grants the company the flexibility to repurchase up to $100 million in common stock, with an initial threshold of $10 million, meaning that management must update the board before executing additional purchases.

All repurchased shares will be canceled, reverting to the status of authorized but unissued shares, or held as treasury stock. The timing, method, and amount of repurchases will be determined by management based on a comprehensive assessment of market conditions and other factors.