DeFi Development Targets Up to $20 Million in New Funding Round

DeFi Development Corp. has filed for an initial public offering (IPO) of up to $20 million in Variable Rate Series C Perpetual Preferred Stock, also known as CHAD Stock.

The stated amount per share is $10, and the initial variable dividend rate is set at 13% per year.

The underwriter option allows for up to 15% more shares to be issued, with proceeds earmarked for corporate uses, including accumulating SOL tokens.

A dividend reserve of $1.3 per share has been planned at closing, covering 12 months of payouts at the 13% rate.