- DeFi Development is offering up to $20 million of CHAD Stock, a perpetual preferred paying 13% a year.
- Dividends accrue and pay on each business day, with the first regular payment set for October 1, 2026.
- Proceeds go mostly to buying more SOL, on top of a treasury of about 2,333,432 SOL and SOL equivalents.
DeFi Development Corp. (DFDV) said Monday it is seeking to raise up to $20 million through the sale of a new perpetual preferred stock.
The Nasdaq-listed Solana treasury company will pay a 13% annual dividend in daily installments, with the cash earmarked mostly for buying more SOL.
R.F. Lafferty holds a 30-day option on an extra 15%
Officially, it is called the Variable Rate Series C Perpetual Preferred Stock. The company dubbed it “CHAD Stock,” per its August 31 press release.
Each share has a stated amount of $10.00. The initial dividend rate is 13.00% per annum.
Instead of a quarterly payout structure, DFDV stated dividends will accrue cumulative value and pay out on each business day when declared by the board, with the initial payment scheduled for October 1, 2026.
The rate is variable, and the initial 13% may vary depending on the terms of the stock.
R.F. Lafferty & Co. is the sole book running manager. The company also granted its underwriter a 30-day option to purchase an additional 15% of the shares sold.
DFDV said it will establish a dividend reserve when the offering closes. It plans to set aside $1.30 per share, equivalent to a full year of dividends at the 13% rate, according to its filing.
The account will be funded from existing cash, financial instruments, or digital assets. The Boca Raton company is registering the sale under a Form S-3 shelf statement, the SEC declared effective April 27, 2026.
Net proceeds are for general corporate purposes, DFDV said. The list includes working capital, strategic transactions, growth initiatives, and buying more SOL and other digital-asset investments.
The company describes itself as the first U.S. public company built around accumulating and compounding Solana.
A ZeroStack sale helped fund 19,000 SOL at $98.14
In a separate statement on Aug. 27, DFDV said it had restarted buying SOL. It purchased about 19,000 tokens at an average cost of $98.14, leaving it with a treasury of about 2,333,432 SOL and SOL equivalents.
The company sold its ZeroStack position to help fund part of that purchase.
“DFDV is designed to provide investors with leveraged exposure to Solana,” Chief Executive Joseph Onorati said last week.
He said the company’s blend of “amplified SOL exposure, strong trading liquidity, and differentiated treasury yield is the DFDV model at work.”
Shares of DFDV climbed 8.03% Monday to close at $5.38, up 110% in the past month but flat for the year. SOL was trading around $101. That’s a long way from the 52-week peak of $18.99 the shares once touched.
Cryptopolitan reported the company expanded a share buyback program to $100 million as its market-value-to-net-asset-value ratio slipped to 0.9.
DFDV warned that there is no assurance it will be completed.
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FAQs
What is DFDV's CHAD Stock?
CHAD Stock is DeFi Development Corp.'s Variable Rate Series C Perpetual Preferred Stock, a $10-per-share security with no maturity date that pays a starting dividend rate of 13% a year in daily installments.
How much is DeFi Development trying to raise and what for?
The company is offering up to $20 million of the preferred shares, with proceeds going to general corporate purposes, including buying more SOL and other digital-asset investments, plus working capital and growth initiatives.
How much Solana does DeFi Development Corp. hold?
After resuming purchases in late August 2026 with about 19,000 SOL bought at an average of $98.14, the company's treasury stood at about 2,333,432 SOL and SOL equivalents.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Randa Moses
Randa Moses is an editor and reporter at Cryptopolitan covering tech, AI, robotics, crypto, scams, and hacks. She has worked in the crypto space since 2017. She held roles at Forward Protocol, AmaZix, and Cryptosomniac. Randa holds a degree in Electrical and Electronics Engineering from the University of Bradford.
