DeFi Development Seeks $20 Million Funding for Additional Solana Purchases

DeFi Development Corp., a company focused on Solana treasury strategy, is seeking to raise up to $20 million through an offering of Series C perpetual preferred stock. The shares will be priced at $10 each and come with a floating dividend rate that starts at 13% annually.

The proceeds from the sale will fund additional purchases of Solana (SOL) as well as other digital-asset investments. DeFi Development has already resumed buying SOL, acquiring around 19,000 tokens last week at an average price of $98.14, which increased its total holdings to approximately 2.33 million SOL.

According to CEO Joseph Onorati, the company's goal is to provide investors with leveraged exposure to Solana. Recent trading activity suggests that investors are increasingly recognizing the value proposition offered by DeFi Development, with shares rising 8.03% to close at $5.38 on the day the offering was announced.