DeFi Development closes Strategy-style $11 million CHAD offering to grow Solana treasury
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DeFi Development Corp. has closed a $11 million offering of its Series C Variable Rate Perpetual Preferred Stock, branded as CHAD. The instrument carries an initial annual dividend rate of 13% and is structured as perpetual preferred stock - a financial mechanism typically used to raise capital while maintaining control structures. The company indicated it plans to direct the proceeds toward expanding its Solana treasury holdings.
The move represents a capital-raising strategy drawing from traditional finance playbook, adapted for the crypto space. By issuing preferred stock rather than equity or debt, DeFi Development can access liquidity while preserving governance and ownership structures.
- DeFi Development closed an $11 million offering of perpetual preferred stock (CHAD) with a 13% initial dividend rate
- Proceeds are earmarked for growing the company's Solana treasury position
- The structure mirrors traditional finance strategies applied to crypto operations
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DeFi Development Completes $11 Million CHAD Deal as Solana Treasury Strategy Gains Momentum
DeFi Development Corp. completed the closing of its public offering of Series C Variable Rate Perpetual Preferred Stock, designated as “CHAD“, raising $11 million in gross proceeds. The U.S. firm confirmed that it will allocate practically…
DeFi Development closes Strategy-style $11 million CHAD offering to grow Solana treasury
DeFi Development Corp's CHAD is a Variable Rate Series C perpetual preferred stock, with an initial annual dividend rate of 13%.