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A Nasdaq-listed Solana (SOL) treasury company is turning to the public equity markets to raise fresh capital for its ongoing digital asset accumulation strategy, proposing a $20 million preferred stock offering aimed at growing its SOL holdings.
DeFi Development Corp, which trades on Nasdaq under the ticker DFDV, announced the proposed offering on Aug. 31. The company plans to issue Variable Rate Series C perpetual preferred stock at a stated value of $10 per share, with dividends accruing at a variable rate beginning at 13% annually. The first dividend payment is scheduled for Oct. 1, 2026.
Dividend Reserve To Be Established at Closing
Upon closing, DeFi Development said it will fund a dividend reserve covering the first 12 months of payments at the 13% rate. The reserve can be funded through cash, financial instruments, or digital assets. R.F. Lafferty & Co has been named book-running manager for the offering.
Proceeds would go toward general corporate purposes, with SOL purchases and other crypto-related investments named as the primary uses. The announcement came days after the company said on Aug. 27 that it had resumed buying Solana, acquiring roughly 19,000 SOL at an average price of $98.14. That purchase brought its total holdings to approximately 2.33 million SOL and equivalents.
Related Article: DeFi Development Launches Solana Data Dashboard as DFDV Shares Slide
CEO Points to Leveraged SOL Exposure as Core to the DFDV Model
CEO Joseph Onorati said last week that the company is structured to give investors amplified exposure to Solana and that recent trading showed the market was beginning to recognize that proposition. He described the combination of SOL exposure, trading liquidity, and treasury yield as the defining features of how DFDV operates.
DFDV shares rose 8.03% on Aug. 31 to close at $5.38. The stock has climbed 110% over the past month but is flat year-to-date. SOL gained 1.9% in the same 24-hour window to trade at $103.30. The cryptocurrency is up 41% over the past month but remains down 17% since the start of 2026.
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Source: coinmarketcap.com