DeFi Development Proposes $20M Preferred Offering to Buy More SOL
DFDV has more than doubled off its 52-week low of $2.44 on elevated volume (2.3× avg).
Summary
DeFi Development Corp. is proposing a $20 million public offering of Variable Rate Series C perpetual preferred stock to fund additional Solana purchases. The shares carry a $10 stated amount and a 13% initial dividend rate, with the first payment due October 1, 2026. The company will set aside a dividend reserve covering the first 12 months of payments, funded with cash, financial instruments, or digital assets. R.F. Lafferty & Co. is book-running the deal. This follows last week's resumption of SOL buying, when the company added ~19,000 SOL at $98.14, bringing its treasury to ~2.33 million SOL. The stock jumped 8% on the news, reflecting investor appetite for leveraged Solana exposure. The offering is modest relative to the company's $166 million market cap, but it signals continued aggressive treasury expansion.
At the time of this announcement, DFDV was trading at $5.42 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 news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: The Block.