Solana Treasury Firm Offers 13% Dividend Preferred Stock to Fund New SOL Purchases

DeFi Development Corp. (DFDV), a major public holder of Solana (SOL), announced a preferred‑stock offering aimed at raising up to $20 million. The offering, called the Variable Rate Series C Perpetual Preferred Stock or “CHAD Stock,” carries an initial annual dividend rate of 13%.

Preferred Stock Structure

Dividends will accrue on a stated amount of $10 per share and will be paid each business day of each calendar month starting 1 October 2026. The company will also deposit $1.30 per share into a separate reserve account at closing, covering 12 months of dividend payments at the initial rate. R.F. Lafferty & Co. is acting as the sole book‑running manager.

Use of Proceeds

DFDV said the net proceeds will be used for general corporate purposes, including working capital, acquisition of SOL and other digital‑asset‑related investments, strategic transactions, and growth initiatives. Existing cash, financial instruments, and digital assets may be used to fund the reserve.

Recent SOL Accumulation

Last week the firm added 19,000 SOL at an average price of $98.14, raising its treasury to roughly 2.33 million SOL and SOL equivalents. The purchase was partially financed by divesting its ZeroStack position, citing improving market conditions.

Market Context

Solana’s price rose 41.4% in August, marking its first positive month of 2026 after a year of declines. DFDV’s month‑to‑date return was reported as more than double that of SOL. The firm also resumed Bitcoin (BTC) accumulation after a 10‑week pause, while other treasury firms continued adding to their holdings.

Outlook

The offering tests investor appetite for leveraged exposure to SOL. Future SOL purchases will depend on the success of the raise and broader market conditions.