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- Use of Proceeds For Solana Purchases (new) — The company plans to use offering proceeds to buy highly volatile Solana tokens, which could lose significant value.
- Dividend Funding Risk (new) — After the first year, dividends are expected to be funded through additional capital raises, creating uncertainty about sustainability.
- Subordination to Indebtedness (new) — The preferred stock ranks junior to $215.8 million of existing debt, increasing risk of loss in liquidation.
- No Trading Market (new) — There is currently no trading market for the CHAD Stock, and one may not develop, limiting liquidity.
DeFi Development Corp. prices $19.8M offering of 2.2M preferred shares at $9.00 each
Filed August 31, 2026 · ~1 min read
Key Changes
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Offering of 2.2M shares of Variable Rate Series C Perpetual Preferred Stock at $9.00 per share, with underwriter option for 330K more.
The Offering verify on EDGAR → -
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Company will receive gross proceeds of $19.8M from primary shares; no secondary shares are being sold.
The Offering verify on EDGAR → -
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Net proceeds will fund general corporate purposes, including buying Solana (SOL) and other digital assets, with management holding broad discretion.
Use of Proceeds verify on EDGAR →
5 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 31, 2026 · How we verify