TLDR
DeFi Development Corp priced 2.2 million CHAD preferred shares at $9 each, targeting $19.8 million in gross proceeds. The CHAD Stock carries a $10 stated value and an initial annual dividend rate of 13%. The $9 offering price gives investors an initial effective annual yield of about 14.44%, based on the starting dividend. DeFi Development Corp plans to create a roughly $2.86 million reserve to cover the first year of dividends at the initial rate. The company may use the proceeds for working capital, acquisitions, crypto investments, and additional Solana purchases. DeFi Development Corp has priced its new preferred stock offering as the Solana treasury company seeks capital for corporate needs and possible SOL purchases. The Nasdaq-listed firm plans to sell 2.2 million Variable Rate Series C Perpetual Preferred Stock shares at $9 each, according to an SEC prospectus.
The offering, known as CHAD Stock, is expected to generate $19.8 million in gross proceeds before fees and expenses. An underwriter option could raise that total to $22.77 million if all additional shares are sold. DeFi Development Corp Sets CHAD Terms
Each CHAD share carries a $10 stated amount and starts with a 13% annual dividend rate. Investors will pay $9 per share, which creates an initial effective annual yield of 14.44% based on the starting dividend.
The dividend rate can change over time. The board may review it once a month based on market rates, trading conditions, comparable yields, and company liquidity needs. Any monthly reduction cannot exceed 50 basis points from the prior month. DeFi Development Corp plans to place $1.30 per issued share into a separate dividend reserve when the deal closes.
For 2.2 million shares, that reserve would total $2.86 million and cover 12 months of payments at the initial 13% rate. The company may fund the account with cash, financial instruments or digital assets. The reserve is not a guarantee, and the company does not have to increase it if the dividend rate rises or more CHAD shares are issued.
Proceeds May Fund More Solana
DeFi Development Corp said the net proceeds may support working capital, SOL purchases, other digital asset investments, acquisitions and strategic projects. The company has not assigned a fixed amount to Solana, so the full offering cannot be treated as a confirmed SOL purchase. The firm recently bought about 19,000 SOL at an average price of $98.14. That purchase increased its treasury to roughly 2.33 million SOL and SOL-equivalent assets, including positions linked to staking activity.
DeFi Development Corp has applied to list CHAD on the Nasdaq Capital Market. The preferred stock has no maturity date and ranks below the company’s debt. R.F. Lafferty & Co. is the sole book-running manager. The next confirmed events include the offering close, Nasdaq’s listing decision and the first scheduled dividend payment on Oct.
1, 2026.
