DeFi Development Corp raises $11M in CHAD preferred offering to buy SOL

DeFi Development Corp.

Priced 1,375,000 CHAD preferred shares at $8.00/share; gross proceeds ~$11.0M, net ~$10.3M; closed Sept 8, 2026.
CHAD pays cumulative variable dividends, initial 13% p.a., monthly adjustments capped at 50bp reductions; first dividend Oct 1, 2026.
Net proceeds to acquire SOL, working capital, strategic initiatives; company targets SOL treasury accumulation.
Dividend reserve of $1.30/share (~$1.79M) set aside for first 12 months of dividend payments.
30-day underwriter option for 206,250 additional shares; R.F. Lafferty & Co., Inc. sole book-runner.

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