DeFi Development Seeks to Raise $20 Million to Purchase Solana

DeFi Development announced its intention to raise up to $20 million through the issuance of preferred shares to strengthen its treasury backed by the cryptocurrency Solana (SOL). The operation was formalized through a prospectus supplement filed with the SEC on August 31, 2026. The plan includes the placement of Series C Variable Rate Perpetual Preferred Shares, named 'CHAD Stock', with an offering price of $9 per share, totaling 2.2 million shares. The capital will be allocated for 'general corporate purposes, including working capital, the acquisition of SOL, and other investments related to digital assets.' The shares are issued with a stated value of $10 per unit, with an initial dividend rate of 13% per annum, equivalent to $1.30 per share per year. This capital mobilization occurs in a context of expansion for the firm, which is the second largest treasury of Solana. On August 27, 2026, the entity acquired approximately 19,000 SOL at an average value of $98.14 per token, increasing its reserves to 2.33 million SOL. The firm, previously known as Janover Inc., changed its business model in April 2025 to focus on accumulating Solana.

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