DeFi Development Corp proposes $20 million preferred stock offering to buy more SOL

Solana treasury firm DeFi Development Corp. plans to raise up to $20 million through a public offering of preferred stock to fund more Solana (SOL) purchases.

The Nasdaq-listed company announced Monday that it has proposed an initial public offering of its Variable Rate Series C perpetual preferred stock. The shares would come with a $10 stated amount, with dividends accruing at a variable rate, starting at 13% a year. The first regular dividend payment is set to occur on Oct. 1, 2026.

At closing, the company said it plans to set up a dividend reserve in an amount equal to the first 12 months of payments at a 13% rate, which would be funded with cash, financial instruments or digital assets.

The company added that it intends to use the proceeds for general corporate purposes, including purchases of additional SOL and other crypto-related investments. R.F. Lafferty & Co. is serving as the book-running manager for the offering.

Last week, DeFi Development — which trades on the Nasdaq under ticker DFDV — said it has resumed SOL purchases, acquiring roughly 19,000 SOL at an average price of $98.14. That brought its holdings to approximately 2.33 million SOL and equivalents.

"DFDV is designed to provide investors with leveraged exposure to Solana, and we believe the recent trading activity demonstrates that investors increasingly understand that value proposition," CEO Joseph Onorati said last week. "That combination of amplified SOL exposure, strong trading liquidity, and differentiated treasury yield is the DFDV model at work."

On Monday, DFDV shares jumped 8.03% to close at $5.38. The stock has risen 110% over the past month but remains flat year-to-date.

Meanwhile, Solana climbed 1.9% over the past 24 hours to trade at $103.3, according to The Block's SOL price page. The cryptocurrency has gained 41% over the past month but remains down 17% since the beginning of 2026.