Shares of Janover Inc. (NASDAQ: JNVR) surging over 300% during the latest trading session, reaching $14.09 with a significant rise of 252.25%. The spike follows a significant equity announcement in which the company successfully secured approximately $42 million through a private placement of convertible notes and accompanying warrants.
Major Institutional and Angel Investors Back the Deal
A prominent team of investors, including Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar collection, Third Party Ventures, Trammell Venture Partners, and eleven angel investors, participated in Janover’s most recent funding round. As a private securities offering exempt from registration, the transaction was carried out in accordance with Regulation D and Section 4(a)(2) of the Securities Act of 1933.
Convertible into JNVR common stock at a nominal par value of $0.00001 per share, the notes have a $42 million principal value. They will mature on April 6, 2030, have a 2.5% annual interest rate, and are payed on a quarterly basis. Interestingly, conversion can happen at any time before maturity as long as Janover’s market value is at least $100 million on the day of conversion.
Convertible Structure with High-Strike Warrants
The conversion price for the notes will be determined based on the JNVR stock’s last reported sale price once the $100 million market cap threshold is crossed, but will not fall below a floor price of $4.81. For every $1,000 of principal invested, investors also received warrants to acquire approximately 8.333 shares at $120 per share and 6.666 shares at $150 per share, both protected by customary anti-dilution and dividend adjustment clauses.
Strategic Shift Toward Digital Assets and Leadership Changes
Janover plans to leverage the capital to expand its presence in the digital asset sector, beginning with acquisitions in the Solana ecosystem through U.S. public market channels. The transaction resulted in a former Kraken team taking majority control of the company, reflecting a strategic pivot toward bridging the gap between Traditional Finance (TradFi) and Decentralized Finance (DeFi).
In alignment with this transition, Joseph Onorati has been named Chairman and CEO, while Parker White assumes the roles of Chief Investment Officer and Chief Operating Officer. JNVR’s founder Blake Janover and director William Caragol will remain on the board, alongside new appointee Marco Santori, former Chief Legal Officer at Kraken.
