DeFi Development Corp, listed on Nasdaq under the ticker DFDV, has concluded an $11 million public offering of its Series C Perpetual Preferred Stock, traded as CHAD. The company issued 1.375 million shares at a price of $8 per share.
Each share of CHAD has a stated value of $10 and offers an annual dividend rate of 13%. Based on the purchase price, this provides an effective yield of approximately 16.25%. The inaugural dividend payment is set for October 1, 2026.
The firm currently manages a treasury containing approximately 2.33 million SOL. Recent activity includes the acquisition of 19,000 SOL at an average price of $98 per token. Proceeds from the offering will fund further Solana purchases and digital asset projects.
The CHAD instrument is non-convertible and provides liquidation preference over common equity. Participants in the offering included Thomas Lee of Fundstrat Global Advisors and the chairman of BitMine. The company previously operated as Janover Inc. before rebranding in April 2025.
