DeFi Development Corp. Prices 'CHAD' Preferred Stock IPO at $11 Million

DeFi Development Corp. (NASDAQ: DFDV) announced the pricing of its Series C variable-rate perpetual preferred stock, known as 'CHAD Stock,' on September 3. The company is issuing 1.375 million shares at $8 per share, with an additional 30-day option for underwriters to purchase 206,250 shares. The offering is expected to generate approximately $11 million in gross proceeds, with settlement scheduled for September 8. The net proceeds will be utilized for general corporate purposes, including the acquisition of Solana (SOL) and other digital assets, as well a