DeFi Development Corporation (NASDAQ: DFDV), a U.S.-listed digital asset investment firm, has announced plans to raise up to $20 million through an initial public offering of variable-rate Series C perpetual preferred stock. The company said the net proceeds will be used for working capital, expanding its Solana (SOL) holdings, and other digital asset investments.
The preferred shares carry a $10 stated amount and dividends will accrue at a variable rate, starting at 13% per year. The first regular dividend payment is scheduled for October 1, 2026. At closing, DeFi Development plans to establish a dividend reserve equal to the first 12 months of payments at the 13% rate, funded with cash, financial instruments, or digital assets. R.F. Lafferty & Co. is acting as book-running manager for the offering.
The announcement follows the company's disclosure that it has resumed SOL purchases, acquiring roughly 19,000 SOL at an average price of $98.14. That brought its total holdings to approximately 2.33 million SOL and equivalents. CEO Joseph Onorati emphasized that DFDV is designed to offer investors leveraged exposure to Solana, citing amplified SOL exposure, strong trading liquidity, and differentiated treasury yield as core elements of the company's model.
DFDV shares jumped 8.03% to close at $5.38, up 110% over the past month but flat year-to-date. Solana rose 1.9% over 24 hours to trade at $103.30. The move reflects growing corporate appetite to raise capital specifically for cryptocurrency acquisitions, although potential investors should weigh risks including digital asset volatility, concentration in SOL, and the variable-rate dividend structure.
