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3 clusters · 15 sources · 14 days · First seen · Last updated

DeFi Development Corp Solana ecosystem activities

Overview

DeFi Development Corp (DFDV) has expanded its focus on the Solana ecosystem through both asset accumulation and capital raising.

In late August, the Nasdaq-listed company resumed purchasing SOL tokens, acquiring 19,000 SOL to bring its total holdings to approximately 2.3 million SOL. This expansion was supported by the divestment of its ZeroStack business. During this period, the firm also launched ‘State of Solana,’ a public intelligence platform designed to track network metrics such as throughput, staking yields, and validator performance.

To fund further Solana purchases and strategic digital asset investments, the company initiated an offering of its Variable Rate Series C Perpetual Preferred Stock, referred to as ‘CHAD stock.’ The offering was priced at $9 per share, with the company planning to sell 2.2 million shares to generate approximately $19.8 million in gross proceeds. The shares feature a 13% initial annual dividend rate, with payments scheduled to begin on October 1.

By early September, the company completed an $11 million issuance of the CHAD stock, receiving approximately $10.3 million in net proceeds after expenses. These shares were sold at $8 each. The company intends to use the majority of these net proceeds to expand its Solana treasury, alongside general corporate purposes and strategic initiatives. Notably, Fundstrat co-founder Tom Lee participated in the offering, which was managed by R. F. Lafferty & Co.

Entities

Solana · Nasdaq · DeFi Development Corp. · R. F. Lafferty & Co. · Fundstrat

Timeline

  1. 3 days ago

    [BUSINESS] 3 sources
    DeFi Development Corp. raises $11M to expand Solana treasury

    DeFi Development Corp. raised $11 million through a CHAD preferred stock offering to fund its Solana treasury strategy, with participation from Fundstrat's Tom Lee.

  2. 11 days ago

    [BUSINESS] 3 sources
    DeFi Development Corp. prices $19.8M CHAD stock offering

    DeFi Development Corp. priced its 2.2 million share CHAD preferred stock offering at $9 per share, aiming to raise $19.8 million to fund Solana purchases and digital asset investments.

  3. 16 days ago

    [BUSINESS] 11 sources
    DeFi Development Corp resumes Solana accumulation and launches data dashboard

    Nasdaq-listed DeFi Development Corp has resumed buying Solana, acquiring 19,000 SOL to reach a 2.3 million token treasury, and launched the ‘State of Solana’ real-time data dashboard.

Sources

bitcoinethereumnews.com · blockchainmagazine.net · blockchainreporter.net · coincu.com · coinedition.com · coingape.com · coinpost.jp · criptotendencias.com · crypto.news · cryptobriefing.com · decrypt.co · detlionblood32.wordpress.com · ekonomika.lt · neweconomy.jp · stocktitan.net

This summary has been updated 1 time: see revision history