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DeFi Development Corp. raises $11M via CHAD preferred stock IPO to buy more Solana tokens.

Market News
04 Sep 2026
Crypto Briefing
View Source
Bullish
DeFi Development Corp. raises $11M via CHAD preferred stock IPO to buy more Solana tokens.

DeFi Development Corp., formerly Janover Inc., priced its CHAD preferred stock at $8 per share, raising $11 million to expand its Solana treasury. The preferred shares offer a 13% annual dividend paid daily and are perpetual and nonconvertible, giving holders priority over common stock in dividends and liquidation. The funds will be used to buy more Solana (SOL) tokens and support staking activities, reinforcing the company's unique strategy as a US public firm focused on a Solana-centric treasury. Investors should note the dividend rate is variable, and the company's heavy reliance on Solana exposes it to crypto market volatility.

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