U.S. Treasury · Funding Round · Decrypt
Solana treasury firm DeFi Development Corp. has launched a preferred stock offering that could raise $19.8 million
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DeFi Development Corp. is a publicly traded company listed on the Nasdaq under the ticker DFDV.
Key facts
- The Nasdaq-listed company is offering 2.2 million shares of Variable Rate Series C Perpetual Preferred Stock at $9 each, according to a preliminary prospectus
- Quarter-to-Date: $SOL beat Nasdaq-100 by 33% $DFDV outperformed SOL by 1.8x
- The company said last week that it had purchased approximately 19,000 SOL at an average price of $98.14
- Today, they announce that they've acquired ~19K $SOL, bringing treasury holdings to ~2.333M SOL
Summary
DeFi Development Corp. is offering 2.2 million preferred shares at $9 each. CEO Joseph Onorati said most of the proceeds are expected to fund SOL purchases. The company recently bought 19,000 SOL, increasing its treasury to 2.33 million SOL and equivalents. Solana treasury firm DeFi Development Corp. has launched a preferred stock offering that could raise $19.8 million, with most of the proceeds expected to fund SOL purchases.