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DeFi Development Corp seeks up to $20 million via preferred stock

The proposed Variable Rate Series C perpetual preferred shares would start paying dividends on Oct. 1, 2026, at a stated starting rate of 13% a year.

Reported · Written up by our desk · Altcoins

DeFi Development Corp, a Nasdaq-listed Solana treasury firm, has proposed a public offering of up to $20 million of Variable Rate Series C perpetual preferred stock, with proceeds earmarked for additional SOL and other crypto-related investments, according to The Block.

The company said the preferred shares would have a $10 stated amount and dividends that accrue at a variable rate starting at 13% annually. It also set the first regular dividend payment for Oct. 1, 2026, and plans to create a dividend reserve equal to the first 12 months of payments at that 13% rate, funded through cash, financial instruments or digital assets.

DeFi Development said it intends to use offering proceeds for general corporate purposes, including buying more SOL and other crypto-related investments. R.F. Lafferty & Co. is serving as the book-running manager for the offering.

The Block also noted that DeFi Development resumed SOL purchases last week, acquiring roughly 19,000 SOL at an average price of $98.14, bringing holdings to about 2.33 million SOL and equivalents. Shares of the Nasdaq ticker DFDV jumped 8.03% to close at $5.38, after rising 110% over the past month, per the report.

Latest closeSolana $101.97 ▼1.0%|Nasdaq Comp. 26,370.89 ▼0.6%

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