DFDV 8-K
DeFi Development Corp. (DFDV)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 7.01 Regulation FD Disclosure.
In connection with the press release described in Item 8.01 below, DeFi Development Corp. (the “Company”) will make available a document containing questions and answers (the “FAQ”) regarding the Warrant Distribution on the Warrant Dividend section of the Company’s Investor Relations website. The FAQ is attached as Exhibit 99.2 to this Form 8-K.
The information furnished in this Current Report under Item 7.01, including Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 8.01 Other Events.
On October 8, 2025, the Company issued a press release announcing that the Board of Directors of the Company declared a warrant dividend distribution (the “Warrant Distribution”) to the record holders of the Company’s common stock, par value $0.00001 per share (the “Common Stock”), in the form of warrants to purchase Common Stock (the “Warrants”). The Warrants will be distributed on or around October 27, 2025 to the record holders of Common Stock as of the close of business on October 23, 2025 (the “Record Date”). Holders of Common Stock will receive one (1) warrant for each ten (10) shares of Common Stock, rounded down to the nearest whole number. Additionally, in lieu of an adjustment to the conversion rate, holders of the Company’s 5.50% Convertible Senior Notes due 2030 (the “Convertible Notes”) as of the Record Date will also receive, at the same time and on the same terms as holders of Common Stock, Warrants, without having to convert such holder’s Convertible Notes, as if such holder held a number of shares of Common Stock, equal to the product of (i) the conversion rate applicable to the Convertible Notes in effect on the Record Date and (ii) the aggregate principal amount (expressed in thousands) of Convertible Notes held by such holder on the Record Date. The expiration date of the warrants is expected to be on or about January 21, 2028 and will have an exercise price of $22.50 per share. We intend to apply for the warrants to be listed on Nasdaq to facilitate trading, which may begin under ticker symbol DFDVW on the first day of trading following the distribution date.
The foregoing description is only a summary and is qualified in its entirety by reference to the press release, which is filed as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a Warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and registration statement containing a prospectus or prospectus supplement describing the terms of the Warrants will be filed with the Securities and Exchange Commission (the “SEC”) and will be available on the SEC’s website located at http://www.sec.gov. Holders of Common Stock and the Company’s Convertible Senior Notes due 2030 should read the prospectus or prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein. This communication contains a general summary of the Warrants. Please read the warrant agreement relating to the Warrants when it becomes available as it will contain important information about the terms of the Warrants.
Cautionary Note Regarding Forward-Looking Statements. This Form 8-K and the exhibits attached hereto contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated warrant distribution. These forward-looking statements are based on the Company’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Company’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. These risks include, but are not limited to market risks, trends and conditions, and are more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports we file with the SEC. Please refer to the cautionary notes in the press release and the FAQ regarding these forward-looking statements.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press release, dated October 8, 2025 | |
| 99.2 | Warrant Dividend Distribution FAQ, dated October 8, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 8, 2025 | DEFI DEVELOPMENT CORP. | |
| By: | /s/ Joseph Onorati | |
| Name: | Joseph Onorati | |
| Title: | Chairman & CEO | |
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Exhibit 99.1
October 8, 2025
DeFi Development Corp. Announces Dividend of Warrant to Stockholders
BOCA RATON, FL — October 8, 2025 — DeFi Development Corp. (Nasdaq: DFDV) (the “Company”), today announced a special dividend to be distributed in the form of warrants to holders of the Company’s common stock as of October 23, 2025 (the “Record Date”).
Each registered stockholder as of the Record Date will receive one (1) warrant for every ten (10) shares of Company common stock held, rounded down to the nearest whole warrant. Additionally, in lieu of an adjustment to the applicable conversion rate, holders of the Company’s Convertible Senior Notes due 2030 will receive warrants on an as converted to common stock basis in accordance with the governing indenture.
The Company expects to distribute up to approximately 3.3 million warrants on or around Monday, October 27, 2025 (the “Distribution Date”), based on shares of common stock and Convertible Senior Notes currently outstanding. If holders of other Company securities, such as convertible notes and warrants issued in prior PIPE transactions, were to convert or exercise their securities prior to the Record Date, the number of warrants distributed would increase. The warrants will be issued without any action required by the Company’s stockholders or noteholders as of the Record Date and without any payment of cash or other consideration.
Each warrant will entitle the holder to purchase one share of common stock at an exercise price of $22.50, at any time following the Distribution Date until the warrants expire on January 21, 2028 (the “Expiration Date”). Holders can only exercise a warrant by paying the exercise price to acquire the shares of common stock in cash. Following the Distribution Date, the warrants are expected to be freely tradable and listed on the Nasdaq Capital Market under the ticker DFDVW. Recipients of the warrants will be able to trade their warrants or exercise any warrants in accordance with the warrant agreement, irrespective of whether they continue to hold shares of common stock.
“This special dividend reinforces our confidence in DFDV’s trajectory and our belief in transparent, shareholder-aligned capital formation,” said Joseph Onorati, the Company’s Chief Executive Officer. “By issuing tradable warrants, we’re empowering investors to participate in future expansion while preserving long-term value for existing shareholders.”
The transaction provides Company stockholders the option to participate in the Company’s capital raising on a non-dilutive basis. Assuming exercise of the warrants in full, the Company would receive up to $73.5 million of gross proceeds, which the Company intends to use for general corporate purposes, including the acquisition of SOL and for working capital.
Details of Warrant Distribution
Stockholders will receive one (1) warrant for each ten (10) shares of common stock held as of the Record Date of October 23, 2025, rounded down to the nearest whole number for any fractional warrant. As an example, a stockholder who owns 320 or 327 shares of common stock would receive 32 warrants. Holders of the Company’s Convertible Senior Notes as of the Record Date will also receive warrants based on the same ratio in the manner determined by the governing indenture. For each $1,000 face amount holders of the 2030 Notes will receive 4.3269 warrants, rounded down to the nearest whole number for any fractional warrant. As an example, a holder of $30,000 face amount of the 2030 Notes would receive 129 warrants.
The warrants will be governed by a warrant agreement that we expect to file with the Securities and Exchange Commission (“SEC”) by the Distribution Date. The warrant agreement will contain additional detail on warrant holders’ rights to exercise, potential future adjustments to the warrants, potential suspension of the exercise period, extension of the expiration of the exercise period, and other matters.
Frequently asked questions and answers relating to the warrant dividend distribution will be made available at https://defidevcorp.com/dashboard?tab=warrants.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The issuance of the Warrants in the Warrant Distribution has not been registered under the Securities Act, as the distribution of a Warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and registration statement containing a prospectus or prospectus supplement describing the terms of the Warrants will be filed with the Securities and Exchange Commission (the “SEC”) and will be available on the SEC’s website located at http://www.sec.gov. Holders of Common Stock and the Company’s Convertible Senior Notes due 2030 should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein. This communication contains a general summary of the Warrants. Please read the warrant agreement relating to the Warrants when it becomes available as it will contain important information about the terms of the Warrants.
About DeFi Development Corp.
DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (“DeFi”) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.
The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.
The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. The Company’s data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”).
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including concerning the warrant distribution; the anticipated record date and distribution date for the warrant; the anticipated gross proceeds from the exercise of warrants; the expected use of proceeds; the acceptance to trading of the warrants on the Nasdaq Capital Market; the prices of the warrants; and the existence of a market for those warrants. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including market risks, trends and uncertainties, and other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
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Exhibit 99.2
DeFi Development Corp. Stockholder FAQ – Warrant Dividend Distribution
What is a warrant?
A warrant is an option to buy shares of common shares issued directly by a company. It gives the holder the right, but not the obligation, to purchase a share of common stock at a specified “exercise price”, on or before the warrant’s “expiration date.”
What is a warrant dividend?
A warrant dividend is a distribution of warrants by the company pro-rata to all existing common stockholders. As with a cash dividend, stockholders do not need to pay any amount or take any other action to receive the distribution. In the case of a warrant dividend the value being distributed to all stockholders is in the form of a warrant instead of cash.
Who will receive the warrants?
Holders of DFDV common stock as of the record date of October 23, 2025 (“stockholders”) will receive one (1) warrant for each ten (10) shares of common stock held as of the record date, rounded down to the nearest whole number. As an example, a stockholder who owns 320 or 327 shares of common stock would receive 32 warrants. No fractional warrants will be issued.
Holders of the company’s 5.50% Convertible Senior Notes due 2030 as of the record date (“noteholders”) will also receive warrants on an as-converted pass-through basis in accordance with the terms of the governing indenture. Noteholders of each $1,000 principal amount will receive 4.32694 warrants, rounded down to the nearest whole number for any fractional warrant. No fractional warrants will be issued. Given this pass-through, the warrant distribution will not trigger a further adjustment to the conversion rate for the convertible notes.
When will the warrants be distributed?
On or about October 27, 2025.
When is the expiration date?
January 21, 2028, unless the Alternate Expiration Price Condition is met.
What is the Alternate Expiration Price Condition?
If, during any 30 consecutive trading days, the volume weighted average price (VWAP) of DFDV common stock is at or above $27.00 for at least 20 of those days (not necessarily consecutive), then the warrants will expire early – specifically at 5:00 p.m. New York City time on the business day immediately following the 20th such day or such other date as the Company may elect in accordance with the warrant agreement.
DFDV will issue a press release if the Alternate Expiration Price Condition is triggered.
What is the exercise price?
$22.50 per share.
Why is DFDV issuing these warrants?
DFDV believes that a warrant dividend distribution is a stockholder-aligned approach to raising additional equity capital that rewards current stockholders and noteholders. It allows existing DFDV investors to maintain their proportional ownership and participate equally in the company’s future upside, or to monetize their rights by selling the warrants for cash.
DFDV believes the warrants provide the opportunity to raise a meaningful amount of capital in a more cost-efficient manner than traditional equity offerings. The pricing reflects our confidence in the company’s growth trajectory and our commitment to raise capital in an efficient manner.
What do I have to do to receive the warrants?
We believe that in most cases no action is required if you are a stockholder as of the October 7, 2025 record date and you have not lent out your shares to your broker or other parties. Contact your broker or, to the extent your shares are held in a registered account with DeFi Development Corp.’s transfer agent, contact shareholder services at Colonial Stock Transfer, Inc., for details (email: [email protected] phone: (801) 355-5740.
Can I sell my warrants? Will they trade publicly?
Except for applicable securities laws and company policies that may apply to insiders, we are not aware of any restrictions on buying or selling the warrants. We intend to apply for the warrants to be listed on the Nasdaq Capital Market to facilitate such trading, which may begin under ticker symbol DFDVW on the first trading day following the distribution date. After the distribution date, DFDV stockholders can trade or exercise the warrants irrespective of whether they continue to hold or sell their shares of DFDV common stock.
When will the warrants begin trading separately on Nasdaq?
We currently expect the warrants to begin trading on Nasdaq on the first trading day after the distribution date, under the ticker symbol DFDVW.
Can I receive a copy of the full warrant agreement?
Yes. DFDV expects to file the full warrant agreement with the SEC on or prior to the distribution date. It will be available via the SEC’s EDGAR system at www.sec.gov and linked on the DFDV Investor Relations page.
Will this dilute my ownership?
There will be no dilution to DFDV stockholders if no warrants are exercised. By the expiration date of January 21, 2028, we expect all warrants will have either expired or been exercised. Since the warrants are being distributed pro-rata to all DFDV stockholders, if a stockholder decides to hold and exercise their warrants to purchase additional shares their percentage ownership of DFDV common stock is not expected to be diluted. On the other hand, if a current DFDV stockholder decides to sell their warrants in the market for cash, they will not be able to exercise and thus their percentage ownership may decline.
If warrants are exercised, what will DeFi Development Corp. use the proceeds for?
General corporate purposes, including the acquisition of SOL and for working capital.
Will the company be receiving any proceeds immediately?
No. DeFi Development Corp. will not receive any proceeds from this warrant distribution unless some or all holders exercise their warrants on or before the expiration date of January 21, 2028.
What happens to my warrants if the share price does not go up above the exercise price?
If you do not sell or exercise your warrants by the expiration date of January 21, 2028, or the early expiration date, if applicable, your warrants will expire. To be clear, you may exercise a warrant at the exercise price even if the market price of DFDV shares does not go above the exercise price, but you may prefer to instead purchase those shares in the market at a lower price.
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How does the Alternate Expiration Price Condition work?
If the Alternate Expiration Price Condition is satisfied, the warrants will expire at 5:00 p.m. New York City time on the business day immediately following the Alternate Expiration Price Condition Date (as defined below) or such other date as the Company may elect in accordance with the warrant agreement.
The Alternate Expiration Price Condition will be deemed satisfied if, during any period of twenty (20) out of thirty (30) consecutive trading days, the VWAP of the Company’s common stock equals or exceeds $27.00 (the “Alternate Expiration Trigger Price”) whether or not consecutive (such final day, the “Alternate Expiration Price Condition Date”).
If the Alternate Expiration Price Condition occurs, the Company will make a public announcement to that effect, which will include the corresponding expiration date. Otherwise, as previously disclosed, the warrants will expire at 5:00 pm New York City Time on January 21, 2028.
When does the 20 out of 30-day VWAP measurement period for the Alternate Expiration Price Condition begin?
The 20 out of 30-day VWAP measurement period can begin on the first trading day after the distribution date, as long as there is an effective shelf registration statement relating to the issuance of the shares issuable on exercise of the warrants at such time. If Company shares are trading above $27.00 on that day and the VWAP meets the threshold, that day counts as the first of the 20 qualifying days within the 30-trading-day window.
If the VWAP Alternate Expiration Price Condition is met, for example, on the 20th qualifying day, when do the warrants expire?
The warrants will expire on the business day immediately following the 20th qualifying trading day within any 30-day period, unless the Company announces an alternate expiration date in accordance with the warrant agreement.
How will I know if the warrants are about to expire?
If the warrants are scheduled to expire, either on the final expiration date or due to early expiration, the Company will issue a public press release announcing the expiration date. This notice will be made available as promptly as practicable and will include the exact date and time by which warrant exercises must be completed.
We encourage shareholders to monitor the Company’s Investor Relations website (https://defidevcorp.com/investor) for news announcements and updates, as well as our filings with the U.S. Securities and Exchange Commission (“SEC”) at www.sec.gov.
When can I exercise my warrants?
You may exercise your warrants at any time from the distribution date until the expiration date (or until any earlier deadline applied by your broker), subject to certain limited exceptions included in the warrant agreement and assuming we have filed a registration statement, including a prospectus or prospectus supplement relating to the exercise as described below on or before the distribution date, and that registration statement has become effective.
How do I exercise the warrants?
To exercise the warrants, you must have funds available to pay the exercise price in cash. You should discuss with your broker its procedures and timeline for effecting exercise on your behalf, because your broker may require you to give notice using a particular method and may require an earlier deadline than close of business on the expiration date.
I own my DeFi Development Corp. shares in an online brokerage account. How will I receive my warrants so I can exercise or sell them?
We believe that your broker will be responsible for crediting your account with warrants if you hold shares as of the record date and such shares are not being rehypothecated or loaned out. If your shares are being rehypothecated or loaned out, other mechanics may apply. In all cases you would need to contact your broker directly for confirmation and any other information regarding timing and access to warrants, including the mechanics for warrant sales and exercises.
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What’s the last day I can buy DeFi Development Corp. shares and still receive the warrants?
We believe that in most cases you must purchase DFDV shares no later than close of trading on October 22, 2025 in order to receive the warrant dividend. Purchases made on or before October 22, 2025 would normally settle in time for you to be a holder at close of business on October 23, 2025 and thus be eligible to receive warrants.
If you buy shares on October 23, 2025 or later, you will not receive any warrants. In other words, October 22, 2025 is the expected ex-dividend date—the first trading day on which DFDV shares no longer carry the right to receive the warrants that will be distributed on or around October 27, 2025.
How do I exercise the warrants?
You can exercise the warrants through your broker (if held in “street name”) or through the warrant agent, Colonial Stock Transfer, Inc., if you are a registered holder. Settlement will occur as soon as commercially practicable after your broker or Colonial processes the exercise. Please refer to the warrant agreement, including the section relating to “exercise terms” and the form of election to purchase warrant shares exhibit to the warrant agreement, which will be filed with the SEC together with the Form 8-A to register the warrants, at or prior to the distribution date.
What if I hold a number of DFDV shares that isn’t a multiple of 10?
The distribution of warrants is at a rate of 0.1 warrants for every share of common stock, rounded down to the nearest whole number of warrants. In practice each broker may round down the number of warrants deliverable to each account, without aggregating multiple accounts that you maintain with them. For example, if you hold 19 shares in one account with a broker and hold 14 shares in another account with the same broker, the broker may deliver only 1 warrant to each account, for a total distribution of only 2 warrants despite your ownership of 32 shares across both accounts.
Do non-U.S. stockholders qualify to receive the warrant dividend?
We are not aware of any restrictions on international stockholders receiving warrants if they hold DFDV common stock as of the record date. Tax treatment may vary based on a stockholder’s tax domicile as well as other factors, so both U.S. and non-U.S. stockholders should seek tax advice (see below). If you are a non-U.S. stockholder, you should contact your broker for jurisdiction-specific logistics, including with regard to warrant sales and exercises.
How are the warrants handled for shares held in a retirement brokerage account?
While we expect that in some cases warrants will be credited to your retirement brokerage account if you hold shares as of the October 23, 2025 record date, exercising or selling warrants from within a retirement account may be subject to additional rules or restrictions, and we recommend that you discuss with your retirement broker, advisor and/or administrator, as applicable.
What happens if I hold my DFDV shares in a margin account and the shares are on loan as of the October 23, 2025 record date?
If your DFDV shares are in a margin account, your broker may loan out your shares often without notifying you. This is standard practice for margin accounts. If your shares are loaned out at the time of the warrant dividend record date, you are not considered the stockholder of record for purposes of receiving the warrant dividend and will not receive any warrants directly from DFDV.
If your broker has loaned out your shares, instead of receiving actual warrants from DFDV, your broker may instead post a placeholder entry in your account called an “in lieu of” credit. This “in lieu of” warrant credit does not represent an exercisable warrant and you will not be able to exercise or trade your warrant entry unless your broker takes steps to obtain the actual warrants for you, which is not guaranteed.
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How do I ensure I receive the actual exercisable DFDV warrants if I have a margin account?
Transfer your shares from a margin account to a cash account (or a fully paid-for account) before the October 23, 2025 record date of the warrant dividend and confirm with your broker that your shares will be held in your name and not subject to lending or rehypothecation. Processing time varies by broker.
For U.S. taxpayers, how will the warrant distribution and/or exercise be treated for tax purposes?
The U.S. federal income tax treatment of the warrant distribution, and any future exercise of the warrants, may vary based on an investor’s specific circumstances. DeFi Development Corp. does not provide tax advice. Regardless of tax domicile, all investors are encouraged to consult their tax advisor regarding the potential impact of the distribution, and to read the tax reporting section of the prospectus supplement, which DeFi Development Corp. expects to file with the SEC on the distribution date.
Disclaimers
Forward Looking Statements
This FAQ contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including concerning the warrant distribution; the anticipated record date and distribution date for the warrant; the anticipated gross proceeds from the exercise of warrants; the expected use of proceeds; the acceptance to trading of the warrants on the Nasdaq Capital Market; the prices of the warrants; and the existence of a market for those warrants. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including market risks, trends and uncertainties, and other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this FAQ. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
No Offer or Solicitation
This FAQ is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The issuance of the warrants has not been registered under the Securities Act, as the distribution of a warrant for no consideration does not constitute a sale of a security under Section 2(a)(3) of the Securities Act. A Form 8-A registration statement and shelf registration statement containing a prospectus or prospectus supplement describing the terms of the warrants will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Holders should read the prospectus supplement carefully, including the Risk Factors section included and incorporated by reference therein.
This FAQ contains a general summary of the warrants. Please read the warrant agreement when it becomes available and filed with the SEC in connection with the distribution date, as it will contain important information about the terms of the warrants.
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