DeFi Development Corp. Launches $19.8M Variable Rate Preferred Stock Offering
DFDV has more than doubled off its 52-week low of $2.44 on elevated volume (2.3× avg).
Summary
DeFi Development Corp. is raising approximately $19.8 million through a new Variable Rate Series C Perpetual Preferred Stock offering at $9.00 per share, with a 13% initial dividend rate and a $10.00 stated amount.
Key Events · Financing and Capital Events · DFDV
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New Preferred Stock Offering
Offering 2,200,000 shares of Variable Rate Series C Perpetual Preferred Stock at $9.00 per share, with a $10.00 stated amount and initial liquidation preference. Underwriter option for up to 330,000 additional shares.
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Dividend Structure
Initial regular dividend rate of 13.00% per annum, adjustable monthly by the board within a 50 basis point band. Dividend reserve of $1.30 per share funded at closing, covering 12 months of dividends at the initial rate.
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Capital Raise Proceeds
Gross proceeds of approximately $19.8 million before underwriting discounts and expenses. Underwriting fee of 6.0% (2% for shares sold to purchasers introduced by the company).
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Listing and ATM Plans
Applied to list CHAD Stock on Nasdaq Capital Market under symbol 'CHAD'. Intends to enter into an ATM program for CHAD Stock following listing, with future issuances targeted between $9.95 and $11.00 per share.
Analysis · DFDV · Crypto Assets
DeFi Development Corp. is offering 2.2 million shares of a new Variable Rate Series C Perpetual Preferred Stock at $9.00 per share, raising approximately $19.8 million before expenses. The CHAD Stock carries a 13% initial dividend rate, a $10.00 stated amount, and a dividend reserve funded at $1.30 per share. This is a novel capital structure for the company — a perpetual preferred with a variable dividend rate that the board can adjust monthly within a 50 basis point band, designed to keep the trading price between $9.95 and $11.00. The offering is priced at a discount to the $10.00 stated amount, and the company intends to list the shares on Nasdaq under 'CHAD' and potentially launch an ATM for the same security. For a company that reported a $27.3 million Q2 net loss and has $215.8 million in consolidated debt, this preferred issuance adds a new layer of senior claims ahead of common equity while providing near-term liquidity for SOL purchases and working capital.
How filings like this one have moved
In the 30 days to Sep 13, 2026, 29.5% of the 1672 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.22%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, DFDV was trading at $5.43 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $166.8M. The 52-week trading range was $2.44 to $18.99. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.