Summary
- DeFi Development Corp. plans to issue 2.2 million preferred shares priced at $9 each.
- CEO Joseph Onorati indicated that the majority of the raised funds will go towards acquiring more SOL.
- The company recently purchased 19,000 SOL, increasing its total treasury to 2.33 million SOL and equivalents.
DeFi Development Corp., a treasury-focused firm in the Solana ecosystem, is set to conduct a preferred stock offering potentially raising $19.8 million, primarily aimed at funding additional SOL acquisitions.
This publicly traded entity is listed on Nasdaq under the ticker DFDV and has embraced a treasury strategy that focuses on accumulating and staking SOL.
Myriad: What will be the next move for Solana's price? Share your prediction.“The intended use of proceeds is detailed in the prospectus, but we anticipate that most of the funds will be used to purchase SOL,” he stated in an interview with Decrypt.
The company is offering 2.2 million shares of Variable Rate Series C Perpetual Preferred Stock at a price of $9 each, as outlined in a preliminary prospectus. They have also applied for the shares to be listed under the ticker CHAD.
The prospectus mentions that the proceeds may be allocated for working capital, investments in SOL and other digital assets, strategic transactions, and growth initiatives, without specifying the amounts designated for each use.
Last week, the company disclosed that it had acquired approximately 19,000 SOL at an average cost of $98.14. This purchase has brought its total holdings to around 2,333,432 SOL, valued at about $236 million.
1/ Let the $SOL accumulation resume! 🟠
Today, we announce that we've acquired ~19K $SOL, bringing treasury holdings to ~2.333M SOL.
Quarter-to-Date:
🔸 $SOL beat Nasdaq-100 by 33%
🔸 $DFDV outperformed SOL by 1.8xMore $SOL, even more amplified exposure. pic.twitter.com/TKk142byRZ
— DeFi Dev Corp. (DFDV) (@defidevcorp) August 27, 2026
According to a company press release, part of the funding for this purchase came from the sale of DFDV’s ZeroStack position. The company intends to hold these tokens as a long-term asset and utilize them through its staking and on-chain infrastructure.
In addition to holding SOL, the firm operates its own Solana validators, enabling it to earn rewards and fees from staking and delegated tokens. The company is also involved in various decentralized finance projects on the Solana network.
Onorati emphasized that DFDV aims to provide shareholders with leveraged exposure to SOL. He highlighted the trading volume, SOL holdings, and staking income as key components of this strategy.
“Our equity has become one of the most liquid avenues to express that view within the SOL DAT category, while our treasury continues to generate differentiated organic yield,” he mentioned in a statement. “When SOL performs well, we believe DFDV has the potential to amplify that performance.”
The company reported that its returns have surpassed SOL’s performance both month-to-date and quarter-to-date, attributing this success to its leveraged exposure, trading liquidity, and treasury yield.
Throughout the week, DFDV achieved the highest absolute dollar trading volume in its category, as well as leading in trading volume relative to market capitalization.
If the preferred-stock offering is successful, it would provide DFDV with additional resources to continue expanding its SOL holdings.