DeFi Development Corp. (DFDVW) Warrant
Each DFDVW warrant gives the holder the right to buy 1 share of DeFi Development Corp. at $22.50 per share, until January 21, 2028. The stock last closed at $5.25, below the strike, so the warrant is out of the money. DeFi Development Corp. has a market value of about $162.74M. There are 3.90M listed warrants; exercising all of them would add 12.6% to the 31.00M shares outstanding.
DFDV vs strike, last 12 months
No share-price history for DFDV yet.
Key terms
- Strike per share
- $22.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $22.50
- Expiry
- 2028-01-21
- Redemption trigger
- none stated
- Cashless exercise
- no
- Break-even stock price
- $23.30
From the issuer's S-1/A (2025-10-14).
Company and stock
- Company
- DeFi Development Corp.
- Underlying stock
- DFDV
- Share price
- $5.25
- Market cap
- $162.74M
- Shares outstanding
- 31.00M
- Value of all listed warrants
- $3.12M (1.9% of market cap)
Market cap is the last share price times shares outstanding (as of 2026-08-13). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.8000
- Price / model
Get Pro to see whether DFDVW is cheap or rich against our model.
Dilution
- Shares outstanding
- 31.00M
- Listed warrants
- 3.90M
- Dilution if all exercised
- 12.6%
Warrant count from filing notes, read by hand (medium): Dividend warrants ($22.50, exp. 2028-01-21; distributed Oct 2025).
Filings and events
Questions about DFDVW
When does the DFDVW warrant expire?
DFDVW expires on January 21, 2028.
What is the strike price of DFDVW?
$22.50 per share; each warrant converts into 1 share, so exercising one warrant costs $22.50.
Can DeFi Development Corp. redeem the DFDVW warrants early?
The source filing we read lists no stock-price redemption trigger.
How many DFDVW warrants are outstanding?
3.90M listed warrants, equal to 12.6% dilution if all are exercised.