DeFi Corp Raises $20M for More SOL Holdings Amid Market Uptick
DeFi Development Corp, the Nasdaq-listed Solana (SOL) treasury company, has proposed a $20 million preferred stock offering to expand its SOL holdings. The company plans to issue Variable Rate Series C perpetual preferred stock at a stated value of $10 per share, with dividends accruing at a variable rate beginning at 13% annually.
The first dividend payment is scheduled for Oct. 1, 2026, and DeFi Development said it will fund a dividend reserve covering the first 12 months of payments at the 13% rate. The reserve can be funded through cash, financial instruments, or digital assets.
R.F. Lafferty & Co has been named book-running manager for the offering. Proceeds would go toward general corporate purposes, with SOL purchases and other crypto-related investments as the primary uses.