DeFi Development Corp Announces New $300M ATM Program for Preferred Stock, Plans to Buy More SOL
DeFi Development Corp (DFDV), a Nasdaq-listed company focused on Solana accumulation strategies, has added approximately 55,491 SOL ($5.78 million) to its treasury, bringing total holdings to around 2.389 million SOL. The firm also announced the launch of a $300 million at-the-market (ATM) program for its Variable Rate Series C Perpetual Preferred Stock under ticker CHAD. The ATM allows DFDV to sell up to $300 million in preferred shares through R.F. Lafferty & Co., with proceeds primarily earmarked for additional SOL purchases. CEO Joseph Onorati described the move as part of a 'flywheel' strategy—raising capital, buying more Solana, and generating yield from staking rewards. DFDV recently closed its first CHAD offering on September 8, raising $11 million with participation from Fundstrat's Tom Lee. The company has also been actively purchasing SOL through various funding mechanisms, including the sale of a ZeroStack position.
Topics: at-the-market offering SOL accumulation stock issuance treasury