$11M Raise for DeFi Development Corp.'s Solana-Centric Treasury

DeFi Development Corp., formerly Janover Inc., has successfully raised $11 million through its CHAD preferred stock offering. The company priced each share at $8, generating a total of $11 million to expand its Solana treasury.

The CHAD preferred shares offer a 13% annual dividend paid daily and are perpetual and nonconvertible, giving holders priority over common stock in dividends and liquidation.

With this funding, the company plans to purchase more SOL tokens and support staking activities. This move aligns with its unique strategy as a US public firm focused on a Solana-centric treasury.