DeFi Development Corp (DFDV), a Nasdaq-listed company, has increased its Solana treasury by 55,491 tokens. The total holdings now stand at approximately 2,388,923 SOL and equivalents, marking a 2% growth since August 27. The recent purchase is valued at roughly $5.78 million.
The company has launched a $300 million at-the-market program for its Variable Rate Series C Perpetual Preferred Stock, traded under the ticker CHAD. The firm intends to sell these shares through broker-dealer R.F. Lafferty & Co. only at or above the par value of $10.00 per share.
Proceeds from the program are earmarked for further SOL acquisitions to support the company's accumulation strategy. This follows an initial offering of CHAD shares that closed on September 8, which raised $11 million. The company notes that CHAD is non-convertible preferred equity.
DFDV reports that its SOL holdings have outperformed the Nasdaq-100 by 39% quarter-to-date. The company operates its own validator infrastructure to earn staking rewards in addition to price exposure. CEO Joseph Onorati stated that the new program provides the structure to scale growth.
