Business Context and Reporting Period
This Form 8-K Current Report was filed by Defi Development Corp. (formerly Janover Inc.) on April 17, 2025. The filing reports a corporate name change, a change in trading symbol, and significant executive leadership transitions. The company is an emerging growth company incorporated in Delaware and trades on The Nasdaq Stock Market LLC.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only quantitative financial disclosure relates to executive compensation and share count:
- Total Shares Outstanding: 1,567,615
- New CFO Base Salary: $450,000 annually
- New CFO Target Bonus: 65% of base salary
Material Changes
Corporate Identity
- Name Change: The company changed its name from "Janover Inc." to "DeFi Development Corp." effective April 17, 2025.
- Trading Symbol: The ticker symbol on The Nasdaq Capital Market will change from "JNVR" to "DFDV".
- CUSIP: The CUSIP number remains unchanged.
Executive Leadership
- Appointment: John (Fei) Han was appointed Chief Financial Officer (CFO) effective April 17, 2025.
- Resignation: Bruce S. Rosenbloom resigned as CFO effective immediately. He will transition to a senior advisory role with a future consulting agreement.
- Reason for Departure: Mr. Rosenbloom's resignation is not due to any disagreement with the company regarding operations, policies, or practices.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on future business performance. The primary risk disclosed relates to the transition of the CFO role, though the company explicitly states there is no disagreement with the departing officer. The new CFO's employment agreement includes change-in-control provisions, including a lump sum payment of two times base salary and full acceleration of unvested equity awards if terminated without cause or for good reason within six months of a change in control.
Investor Verification Checklist
- Verify the new trading symbol "DFDV" on The Nasdaq Capital Market.
- Confirm the effective date of the name change (April 17, 2025) for record-keeping purposes.
- Review the full text of the Executive Employment Agreement (Exhibit 10.1) for detailed terms regarding Mr. Han's equity awards and termination conditions.
- Monitor future filings for the specific terms of the consulting agreement with former CFO Bruce S. Rosenbloom.