Subsequent Events	9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 19—SUBSEQUENT EVENTS We have evaluated events and transactions that occurred after the balance date through November 19, 2025, the date the condensed consolidated financial statements were available to be issued, we concluded the following events required disclosure to the Notes to the Condensed Consolidated Financial Statements. BOARD OF DIRECTORS On October 21, 2025, our Board of Directors elected Thomas Perfumo as a director of the Company, to fill a vacancy on the Board created by the departure of Marco Santori in September. Mr. Perfumo was appointed to serve on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board. The Board approved a grant of 7,000 restricted stock units to Mr. Perfumo, which will vest quarterly over the next year. WARRANT DIVIDEND On October 27, 2025, we issued 3.9 million of warrant dividends on our common stock which have an exercise price of $22.50 per share. INVESTMENT On September 19, 2025, we entered into a Securities Purchase Agreement with Flora Growth Corp. in which we agreed to, among other things, purchase convertible notes for 93.3 thousand SOL, or $23.1 million (using the exchange rate as of the agreement date) due September 2030, contingent upon certain closing conditions as described in the agreement. The convertible notes have an interest rate of 8.0% per year, accrued daily and payable in SOL on a quarterly basis, in arrears, on March 31, June 30, September 30 and December 31 each year. On October 24, 2025, the closing conditions were met. ELOC We issued 189.4 thousand shares representing two months of commitment fee payments. CONVERTIBLE NOTES AND PRE-FUNDED WARRANTS We issued 654.6 thousand shares of common stock upon the conversion of $6.4 million of convertible notes and 2.8 million shares of common stock related to pre-funded warrants exercises. SOL PURCHASES We made purchases of SOL totaling approximately $9.6 million from October 1, 2025 to November 18, 2025.

Subsequent Events

9 Months Ended

Sep. 30, 2025

NOTE 19—SUBSEQUENT EVENTS

We have evaluated events and transactions that occurred after the balance date through November 19, 2025, the date the condensed consolidated financial statements were available to be issued, we concluded the following events required disclosure to the Notes to the Condensed Consolidated Financial Statements.

BOARD OF DIRECTORS

On October 21, 2025, our Board of Directors elected Thomas Perfumo as a director of the Company, to fill a vacancy on the Board created by the departure of Marco Santori in September. Mr. Perfumo was appointed to serve on the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board. The Board approved a grant of 7,000 restricted stock units to Mr. Perfumo, which will vest quarterly over the next year.

WARRANT DIVIDEND

On October 27, 2025, we issued 3.9 million of warrant dividends on our common stock which have an exercise price of $22.50 per share.

INVESTMENT

On September 19, 2025, we entered into a Securities Purchase Agreement with Flora Growth Corp. in which we agreed to, among other things, purchase convertible notes for 93.3 thousand SOL, or $23.1 million (using the exchange rate as of the agreement date) due September 2030, contingent upon certain closing conditions as described in the agreement. The convertible notes have an interest rate of 8.0% per year, accrued daily and payable in SOL on a quarterly basis, in arrears, on March 31, June 30, September 30 and December 31 each year. On October 24, 2025, the closing conditions were met.

ELOC

We issued 189.4 thousand shares representing two months of commitment fee payments.

CONVERTIBLE NOTES AND PRE-FUNDED WARRANTS

We issued 654.6 thousand shares of common stock upon the conversion of $6.4 million of convertible notes and 2.8 million shares of common stock related to pre-funded warrants exercises.

SOL PURCHASES

We made purchases of SOL totaling approximately $9.6 million from October 1, 2025 to November 18, 2025.

DeFi Development Corp. 10-Q