DeFi Development Corp. Offers 13% Dividend on Preferred Stock to Fund Additional Solana Purchases
DeFi Development Corp., a firm managing the Solana (SOL) treasury, announced plans to raise up to $20 million through an offering of its Variable Rate Series C Perpetual Preferred Stock. The stock carries an initial annual dividend rate of 13%, with payments beginning on October 1, 2026. Part of the proceeds will be used for general corporate purposes and additional purchases of SOL as market conditions improve. The firm recently resumed buying SOL after a period of inactivity, acquiring 19,000 tokens at an average price of $98.14 to increase its holdings to approximately 2.33 million units. The company also mentioned that it partially funded the purchase by selling part of its ZeroStack position. This move reflects growing confidence among crypto treasury firms as broader market conditions improve, with SOL rising over 40% in August for its first positive month since January.
Topics: DeFi dividends preferred_stock Solana (SOL) treasury_management