Solana Treasury Firm DFDV Plans Up to $20M Preferred Share Offering to Buy More SOL
Solana treasury company DeFi Development Corp (DFDV) has proposed a public offering of up to $20 million in Variable Rate Series C perpetual preferred stock, earmarking the proceeds for additional SOL purchases. The preferred shares carry a par value of $10 and a variable dividend with an initial annual rate of 13%; the first scheduled dividend date is Oct. 1, 2026. A 12-month dividend reserve fund will be established at closing and may be funded with cash, financial instruments or crypto assets. R.F. Lafferty & Co is the book-running manager. DFDV said the funds will be used for general corporate purposes, including buying more SOL and other crypto-related investments. The announcement follows a week in which DFDV resumed accumulation, paying an average $98.14 for about 19,000 SOL and lifting its holdings to around 2.33 million SOL. SOL was changing hands near $103. CEO Joseph Onorati said the company is built to provide leveraged exposure to Solana. The offering adds to a broader trend of listed SOL treasury firms including SOL Strategies, which is cleared for Nasdaq, and Classover, which previously announced a $500 million reserve build.








