NewsHK
Preferred-stock structures are finding a new home in the digital-asset treasury playbook.
DeFi Development Corp has closed an $11 million offering of its CHAD security, a Variable Rate Series C perpetual preferred stock carrying an initial annual dividend rate of 13%, with proceeds directed toward expanding the company's Solana ($SOL) holdings.
The raise follows the Strategy-style template: a public company tapping preferred equity markets to build a concentrated on-chain asset position. DeFi Development's target asset is $SOL.
The closed $11 million print now sits on record as a market reference for what this category of capital raise currently costs to execute.
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