DeFi Development sets a $1.30 per share reserve behind its 13% CHAD dividend
DeFi Development Corp. (DFDV) said Monday it is seeking to raise up to $20 million through the sale of a new perpetual preferred stock.
The Nasdaq-listed Solana treasury company will pay a 13% annual dividend in daily installments, with the cash earmarked mostly for buying more SOL.
R.F. Lafferty holds a 30-day option on an extra 15%
Officially, it is called the Variable Rate Series C Perpetual Preferred Stock. The company dubbed it โCHAD Stock,โ per its August 31 press release.
Each share has a stated amount of $10.00. The initial dividend rate is 13.00% per annum.
Instead of a quarterly payout structure, DFDV stated dividends will accrue cumulative value and pay out on each business day when declared by the board, with the initial payment scheduled for October 1, 2026.
The rate is variable, and the initial 13% may vary depending on the terms of the stock.
R.F. Lafferty & Co. is the sole book running manager. The company also granted its underwriter a 30-day option to purchase an additional 15% of the shares sold.
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