Why Is DeFi Development Stock Up Today?
DeFi Development raised its Solana treasury to about 2.39 million SOL and set up a $300 million program to issue CHAD preferred stock at $10.00 or more. The stock was 1.70% higher ten minutes after the 08:30 ET update. As of 12:32 ET it was +2.34% against Friday's close.
- DeFi Development added 55,491 SOL since August 27, bringing holdings to about 2,388,923 SOL and SOL equivalents, about 2% more.
- A new at-the-market program can issue up to $300 million of CHAD perpetual preferred stock at or above $10.00 a share, 25% above CHAD's $8.00 IPO price on September 8.
- At CHAD's 13% initial rate, the full $300 million would carry about $39 million a year in dividends. The stock rose 1.70% in the first ten premarket minutes.
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +10m | +1m % | +10m % |
|---|---|---|---|---|---|---|
| DFDV | 5.00 | 5.00 | 5.00 | 5.09 | 0.00% | +1.70% |
DeFi Development stock is up today after the Solana treasury company said it now holds about 2.39 million SOL and set up a $300 million at-the-market program to issue its CHAD perpetual preferred stock. The stock was unchanged at $5.0048 one minute after the 08:30:00 ET headline and 1.70% higher, at $5.09, after ten minutes of thin premarket trading. As of 12:32 ET the stock was 2.34% above Friday's close, at $5.199.
What DeFi Development announced
- Treasury holdings rose by 55,491 SOL since August 27, to about 2,388,923 SOL and SOL equivalents, an increase of about 2%.
- The company established an at-the-market program for up to $300 million of its Variable Rate Series C Perpetual Preferred Stock, which trades on Nasdaq as CHAD.
- It intends to issue CHAD under the program only at or above $10.00 per share, the stock's stated amount.
- Net proceeds are intended mainly to fund more SOL purchases. R.F. Lafferty & Co. is the sales agent.
How the $300 million CHAD program works
| Term | Value |
|---|---|
| Security | Variable Rate Series C Perpetual Preferred Stock (CHAD) |
| Program size | Up to $300 million |
| Minimum issue price | $10.00 per share |
| Initial public offering price, September 8 | $8.00 per share |
| Initial annual dividend rate | 13% of the $10.00 stated amount |
| Annual dividend per share at that rate | $1.30 |
| Annual dividends if the full program is issued at $10.00 | About $39 million |
Issuing preferred stock instead of common stock raises money for SOL without adding common shares, which is how the company protects its SOL-per-share figure. The cost moves to the dividend line. CHAD carries a 13% initial annual rate on its $10.00 stated amount, paid ahead of common shareholders, so the full $300 million would carry about $39 million a year in dividends at the starting rate.
The $10.00 floor limits how much of the program can be used. CHAD priced its initial public offering at $8.00 a share on September 8, raising $11 million, so shares issued under the new program have to fetch at least 25% more than the IPO price. The $300 million is capacity; the amount raised depends on CHAD trading at or above its stated amount.
DeFi Development's funding record, dated
- May 4, 2026: A $200 million at-the-market program for common stock is launched to fund SOL purchases.
- August 27, 2026: The company acquires about 19,000 SOL at an average $98.14, taking holdings to about 2,333,432 SOL and SOL equivalents.
- August 31, 2026: A proposed initial public offering of CHAD preferred stock is announced.
- September 8, 2026: The CHAD offering closes at $11 million, priced at $8.00 a share with a $10.00 stated amount and a 13% initial dividend rate.
- September 14, 2026: Holdings reach about 2,388,923 SOL and a $300 million CHAD at-the-market program is established.
How the stock traded after the update
| Time (ET) | Price | Change from before |
|---|---|---|
| Before 08:30 | $5.0048 | — |
| 08:31 | $5.0048 | +0.00% |
| 08:40 | $5.09 | +1.70% |
| 12:32 (session, vs Friday close) | $5.199 | +2.34% |
The reaction resembled the one to the August 27 treasury update, when the stock went from $4.75 to $4.80 in fifteen minutes, a 1.053% rise. Before today's headline the stock sat about 5.4% above that August 27 starting price.
Why is DeFi Development stock up today?
The company said it holds about 2,388,923 SOL, up about 2% since August 27, and set up a $300 million at-the-market program for its CHAD preferred stock, announced at 08:30:00 ET. The stock was 1.70% higher ten minutes later. As of 12:32 ET it was +2.34% against Friday's close.
How much SOL does DeFi Development hold?
About 2,388,923 SOL and SOL equivalents as of September 14, 2026, after adding 55,491 SOL since August 27.
What is the DeFi Development CHAD ATM?
A program to issue up to $300 million of CHAD, the company's variable rate perpetual preferred stock, at or above $10.00 a share, mainly to fund SOL purchases. CHAD pays an initial 13% annual dividend on its $10.00 stated amount, about $1.30 a share a year.
Sources
-
DFDV Expands SOL Treasury to 2.39 Million SOL and Establishes $300 Million CHAD ATM to Fuel Continued Growth
— GlobeNewswire
Holdings grew by 55,491 SOL to about 2,388,923 SOL and SOL equivalents, about 2% since August 27, and the company established an at-the-market program for up to $300 million of CHAD preferred stock, with proceeds mainly for SOL purchases.
-
DeFi Development Corp expands Solana treasury to 2.39 million SOL, sets up $300 million CHAD ATM
— The Block
CHAD is a variable rate Series C perpetual preferred stock with an initial 13% annual dividend rate; the $300 million ATM funds more SOL purchases.
-
DeFi Development Corp. expands SOL treasury, launches $300M ATM
— Investing.com
The company intends to issue CHAD shares under the ATM at or above $10.00 per share, CHAD's par value.
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