Solana
DeFi Development Corp. Seeks $20 Million Through Preferred Stock to Fund SOL Purchases
Solana treasury firm DeFi Development Corp. plans to raise capital via a preferred share issuance offering a 13% initial dividend yield.
DeFi Development Corp. has announced plans to raise up to $20 million through an initial public offering of its Variable Rate Series C Perpetual Preferred Stock, managed by R.F. Lafferty & Co. The security carries an initial annual dividend rate of 13% based on a $10 per-share stated value, with distributions paid each business day starting Oct. 1, 2026. The firm plans to place $1.30 per share into a dedicated reserve at closing to fund the first 12 months of payouts.
Net proceeds from the offering are earmarked for corporate purposes, working capital, strategic deals, and further acquisitions of SOL. The company recently resumed purchases by acquiring 19,000 SOL at an average price of $98.14, partly funded by selling its ZeroStack position, which brought its total holdings to roughly 2.33 million SOL and SOL equivalents.
The capital raise follows a 41.4% gain for SOL in August, marking its first positive monthly return of 2026. Chief Executive Joseph Onorati described the firm as a leveraged vehicle for SOL exposure, noting that month-to-date returns had outpaced the underlying token.
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