DeFi Development Authorizes 32.2M CHAD Preferred Shares for New $300M ATM Program

summarizeSummary

DeFi Development Corp. filed an 8-K detailing a new ATM program to sell up to 30 million CHAD preferred shares, backed by a 15-fold increase in authorized shares to 32.2 million. The program could raise up to $300 million for working capital and Solana acquisitions.

check_boxKey Events · Financing and Capital Events · DFDV

• CHAD Authorized Shares Increased 15-Fold

  Certificate of Amendment filed September 8, 2026 increased authorized CHAD preferred shares from 2,220,000 to 32,200,000 — a 29,980,000 share increase.

• New $300M ATM Program Launched

  Sales Agreement with R.F. Lafferty & Co. allows sale of up to 30,000,000 CHAD shares at market prices, representing up to $300 million in potential gross proceeds at the $10.00 stated amount.

• Agent Compensation and Floor Price

  Agent earns up to 0.75% commission on gross proceeds; ATM sales cannot occur below a $1.00 floor price without agent consent.

• Use of Proceeds

  Net proceeds earmarked for general corporate purposes, working capital, and acquiring Solana (SOL) digital assets.

auto_awesomeAnalysis · DFDV · Crypto Assets

DeFi Development Corp. has expanded its authorized CHAD perpetual preferred stock from 2.22 million to 32.2 million shares — a nearly 15-fold increase — to support a new at-the-market program that could raise up to $300 million at the $10.00 stated amount. The company retains full discretion over whether and when to sell, and the agent earns a modest 0.75% commission. Proceeds are earmarked for working capital and acquiring Solana (SOL) digital assets, aligning with the company's treasury strategy. This follows the $11 million Series C preferred offering that closed just three days ago on September 8, 2026, and comes amid a $27.3 million Q2 net loss and material weaknesses in internal controls disclosed in August.