DeFi Development Launches ATM for Up to 30M More CHAD Preferred Shares
DFDV has more than doubled off its 52-week low of $2.44.
Summary
DeFi Development Corp. launched an at-the-market program to sell up to 30 million additional shares of its CHAD perpetual preferred stock, a new capital-raising vehicle separate from the $11 million offering that closed September 8, 2026.
Key Events · Financing and Capital Events · DFDV
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New ATM Program for CHAD Preferred
Entered into a Sales Agreement with R.F. Lafferty to sell up to 30,000,000 additional shares of Variable Rate Series C Perpetual Preferred Stock (CHAD) from time to time.
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Potential $300M in Gross Proceeds
At the $10.00 per share stated amount, the full 30 million shares would represent up to $300 million in potential gross proceeds, though actual sales are at the company's discretion and subject to market conditions.
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Dividend Reserve Funded at Closing
Company intends to deposit $1.30 per share into a Dividend Payment Account at closing, covering 12 months of dividends at the initial 13.00% annual rate.
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Target Price Band of $9.95-$11.00
Company's current intention is to issue additional CHAD shares at prices between $9.95 and $11.00, and to adjust the dividend rate to maintain the CHAD trading price within that range.
Analysis · DFDV · Crypto Assets
DeFi Development Corp. has entered into a Sales Agreement with R.F. Lafferty to sell up to 30,000,000 additional shares of its Variable Rate Series C Perpetual Preferred Stock (CHAD) through an at-the-market program. This is a new capital-raising vehicle, separate from the $11 million firm commitment offering that closed on September 8, 2026. The ATM has no minimum offering amount, meaning the company can drip-feed shares into the market over time. At the stated $10.00 per share liquidation preference, the full 30 million shares would represent up to $300 million in potential gross proceeds — a substantial expansion of the CHAD share count from the current 1,375,000 outstanding. The company intends to issue additional CHAD shares at prices between $9.95 and $11.00, targeting a long-term trading range for the security. The 13% dividend rate and the company's right to adjust it monthly (subject to a 50 basis point floor on reductions) are key terms. The ATM structure creates ongoing overhang risk for the CHAD security, though the company's stated intention to maintain the price within a band may mitigate some of that pressure. The filing also discloses that the company will fund a dividend reserve of $1.30 per share at closing, covering 12 months of dividends at the initial 13% rate.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 30.2% of the 1943 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.21%. 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 $5.10 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $165.7M. The 52-week trading range was $2.44 to $18.99. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.