Solana Treasury Firm Raises Up to $20 Million for More SOL Buys

DeFi Development Corp., the Solana treasury firm, has announced plans to raise up to $20 million through a preferred stock offering. The company will issue Variable Rate Series C Perpetual Preferred Stock, known as CHAD Stock, with an initial annual dividend rate of 13%. Dividends will accrue on a stated amount of $10 per share and payments will be made each business day of each calendar month, starting October 1, 2026. The reserve for 12 months of dividend payments at the initial 13% rate is $1.30 per share.

DeFi Development Corp. intends to use part of the proceeds from the offering to buy more SOL, its largest digital asset holding. In fact, it resumed accumulation last week, adding 19,000 SOL at an average price of $98.14, lifting its treasury to about 2.33 million SOL and SOL equivalents.

Chief Executive Joseph Onorati described DFDV as a 'leveraged way for investors to gain exposure to SOL.' He noted that when SOL performs well, the firm has the potential to amplify that performance, citing that month-to-date, its return has been more than twice that of SOL.