DeFi Development Corp. plans $20M preferred stock IPO with 13% dividend yield

DeFi Development Corp.

Up to $20M of Variable Rate Series C Perpetual Preferred Stock ('CHAD Stock') IPO; underwriter 30-day option for 15% more.
Stated value $10/share; cumulative dividends at variable annual rate, initial 13%, payable daily; first dividend Oct 1, 2026.
Dividend reserve funded with $1.30/share (12 months of dividends) from existing cash/digital assets.
Net proceeds for general corporate purposes: working capital, SOL and digital asset investments, strategic transactions, growth.
Sole book-runner R.F. Lafferty & Co.; offering via effective Form S-3.

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