Solana Treasury DeFi Development Corp Eyes $20 Million Raise to Buy More SOL
DeFi Development Corp. (Nasdaq: DFDV) launched a preferred stock offering that could raise $19.8 million, with most proceeds expected to buy SOL. The company is offering 2.2 million shares of Variable Rate Series C Perpetual Preferred Stock at $9 each and has applied to list them as CHAD. CEO Joseph Onorati said the net proceeds will go to general corporate purposes, including working capital, SOL purchases, other digital asset investments, strategic transactions, and growth initiatives, but most should go toward SOL. DFDV recently bought about 19,000 SOL at an average price of $98.14, bringing holdings to roughly 2.33 million SOL worth about $236 million. The firm runs Solana validators, earns staking rewards, and aims to give shareholders leveraged exposure to SOL.
