DeFi Development Corp Raises $11 Million in IPO
News provided byDeFi Development Corp · 2 min read
BOCA RATON, Fla., Sept. 04, 2026 /CourierPR/ -- DeFi Development Corp. (Nasdaq: DFDV) has announced the successful pricing of its initial public offering (IPO) of 1,375,000 shares of Variable Rate Series C Perpetual Preferred Stock (CHAD Stock), raising approximately $11.0 million in gross proceeds. The offering, priced at $8.00 per share, is expected to settle on September 8, 2026, subject to customary closing conditions.
Founded as the first U.S. public company focusing on Solana (SOL) as part of its treasury strategy, DeFi Development Corp. aims to use the proceeds from the IPO for various corporate purposes, including acquiring SOL and other digital assets, executing strategic transactions, and fostering growth initiatives. The company’s treasury policy ensures that investors receive direct exposure to SOL, while also supporting the expansion of the Solana ecosystem through staking and validator operations.
The CHAD Stock offers a unique dividend structure. Holders will receive cumulative dividends at a variable rate, starting at 13.00% per annum. Regular dividends will be paid monthly, contingent upon the board of directors' approval and available funds. Should any regular dividends be missed, compounded dividends will accrue, with the rate increasing by 25 basis points each month until reaching a maximum of 20% per annum.
To ensure a steady stream of dividends, the company will establish a dividend reserve at the offering's close. This reserve, funded by the company's existing cash and assets, will cover the first 12 months of dividend payments at a rate of 13.00% per annum, amounting to $1.30 per share.
DeFi Development Corp. retains the right to redeem CHAD Stock at its discretion, under certain conditions. These include a clean-up redemption if the outstanding shares fall below 25% of the total issued, or a tax redemption if specific tax events occur. The redemption price will be based on the liquidation preference, adjusted according to the trading price and recent sale transactions.
The offering is being managed by R.F. Lafferty & Co., Inc., with the preliminary prospectus supplement available on the SEC’s website. Investors can also obtain a copy by contacting the firm directly.
Notably, DeFi Development Corp. operates as an AI-powered platform that connects the commercial real estate industry, offering value-added services and software subscriptions. This dual focus on DeFi and commercial real estate highlights the company’s strategic approach to leveraging digital assets and technology.
The company cautions investors against relying on forward-looking statements, which are subject to risks and uncertainties, including fluctuations in the market price of SOL, regulatory changes, and general economic conditions.