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      DeFi Development Corp Raises $11 Million in CHAD Offering for SOL-Backed Credit Instrument

      DeFi Development Corp has successfully completed an $11 million public offering of CHAD Stock, a preferred equity instrument backed by the company's Solana treasury. The offering, which concluded on September 8, 2026, is being touted as the first digital credit instrument backed by Solana (SOL) to trade on a major exchange, specifically Nasdaq.

      The offering consisted of 1.375 million preferred shares priced at $8 each, with each share having a stated value of $10 and an annual dividend rate of 13%. This translates to an effective yield of approximately 16.25% for investors. The first dividend payment is scheduled for October 1, 2026. Notable participants in the offering included Thomas Lee, co-founder of Fundstrat Global Advisors, and the chairman of BitMine, an Ethereum-focused treasury firm.

      DeFi Development Corp, which trades under the ticker DFDV, currently holds around 2.33 million SOL along with other digital assets. The net proceeds from the CHAD offering will primarily be used to acquire more Solana and invest in related digital asset projects. The company, formerly known as Janover Inc., shifted its focus to a Solana-centric digital asset treasury strategy in April 2025.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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