Odaily Planet Daily reports that DeFi Development Corp. has priced its initial public offering of variable-rate Series C perpetual preferred shares, “CHAD Stock,” on September 3. A total of 1,375,000 shares were issued at a price of $8 per share, with expected gross proceeds of approximately $11 million, before deducting underwriting discounts, commissions, and offering expenses. The underwriters have been granted an option to purchase an additional 206,250 shares within 30 days. The transaction is scheduled to settle on September 8. The net proceeds will be used for general corporate purposes, including the purchase of Solana (SOL) and other digital assets, executing strategic transactions, and implementing growth initiatives.
DeFi Development Corp. Completes $11M IPO for CHAD Preferred Stock
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Summary
DeFi Development Corp. priced its IPO of 1.375 million CHAD shares at $8 each on September 3, 2026, raising $11 million before fees. The underwriters have an option to purchase an additional 206,250 shares within 30 days. The proceeds will be used to acquire Solana (SOL) and other digital assets, as well as to support growth and strategic initiatives. On-chain data indicates growing interest in altcoins to watch, including SOL. Settlement is scheduled for September 8.
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