DeFi Development Announces $11M IPO for CHAD Stock

iconChaincatcher
Share
This is the logo of the coin.
SOL
$101.46-3%
AI summary iconSummary
DeFi Development Corp. (NASDAQ: DFDV) announced the pricing of its IPO for variable-rate C-series perpetual preferred stock, "CHAD Stock," on September 3. The offering includes 1,375,000 shares at $8 each, with an option for underwriters to purchase an additional 206,250 shares within 30 days. The $11 million in gross proceeds will support corporate needs, including purchases of Solana (SOL) and growth initiatives. The transaction will settle on September 8. Recent interest rate developments have increased investor interest in DeFi projects, while concerns regarding potential DeFi exploit risks persist.

According to ChainCatcher, as reported by The Wall Street Journal, DeFi Development Corp. (Nasdaq: DFDV) announced that its initial public offering of variable-rate Series C perpetual preferred shares, branded “CHAD Stock,” was priced on September 3, with 1,375,000 shares issued at $8.00 per share; the underwriters have been granted an option to purchase an additional 206,250 shares within 30 days. The company expects gross proceeds of approximately $11 million from this offering (before deducting underwriting discounts, commissions, and offering expenses), with settlement planned for September 8. The net proceeds will be used for general corporate purposes, including the purchase of Solana (SOL) and other digital assets, strategic transactions, and growth initiatives.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.