On August 31, DeFi Development Corp (DFDV), which specializes in managing treasury assets within the Solana ecosystem, announced plans for a public offering of Series C perpetual preferred stock, aiming to raise up to $20 million. The funds will be used to increase their holdings in SOL tokens and finance related crypto investments.
According to the press release, each share will have a nominal value of $10, with dividends accruing at a floating annual rate starting at 13%. The first regular payment is scheduled for October 1, 2026.
The company is also offering the underwriter a 30-day option to purchase an additional 15% of the offering volume.
To protect investors, DFDV will establish a special reserve fund to cover payments for the first 12 months. This fund will be backed by fiat, traditional financial instruments, or digital assets.
The offering will be organized by investment firm R.F. Lafferty & Co.
On August 27, DFDV resumed investments by purchasing 19,000 SOL at an average price of $98.14. The company’s total treasury balance has reached 2.33 million SOL.
The purchase was partially funded by proceeds from the sale of shares in the crypto treasury company ZeroStack. The newly acquired SOL tokens are expected to be held as a long-term asset and utilized through staking infrastructure.
According to CEO Joseph Onorati, the company’s business model is focused on providing investors with institutional access to Solana with leverage through treasury yield.
Following the announcement, DFDV shares rose by 8% in a day, closing at $5.38. At the time of writing, SOL is trading around $102, having gained over 40% in the past month.
In August, participants in Solana’s on-chain voting approved proposal SGP-0002, which doubles the annual disinflation rate from 15% to 30%.
Previously, ForkLog explored how a similar business model to Strategy works, why critics call it a Ponzi scheme, while supporters see it as an example of effective risk management, and what lies behind the recent sale of part of the cryptocurrency reserve.
