DeFi Development Corp. Prices CHAD Stock IPO at $8 Per Share, Expects $11M Gross Proceeds

News Editor

2026-09-04 13:33:57

DeFi Development Corp. (NASDAQ: DFDV) has priced its IPO of variable-rate Series C perpetual preferred stock (CHAD Stock) at $8 per share, expecting approximately $11 million in gross proceeds. The funds will be used for general corporate purposes, including purchasing Solana and other digital assets.

DeFi Development Corp. (NASDAQ: DFDV) has priced its initial public offering of variable-rate Series C perpetual preferred stock, known as "CHAD Stock," at $8 per share, according to a Wall Street Journal report. The offering comprises 1.375 million shares, with underwriters granted a 30-day option to purchase an additional 206,250 shares.

The company expects gross proceeds of approximately $11 million, before deducting underwriting discounts, commissions, and other expenses. The transaction is scheduled to settle on September 8. Net proceeds will be used for general corporate purposes, including the acquisition of Solana (SOL) and other digital assets, strategic transactions, and growth initiatives.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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