DFDV Expands SOL Treasury to 2.39 Million SOL and Establishes $300 Million CHAD ATM to Fuel Continued Growth

DFDV grows its SOL treasury and sets up a $300 million CHAD preferred ATM mainly to fund further SOL accumulation.

Rhea-AI Summary

DeFi Development Corp (DFDV) expanded its Solana (SOL) treasury and created a $300 million CHAD at-the-market program.

The company’s SOL and SOL-equivalent holdings grew by 55,491 SOL since August 27, 2026, to approximately 2,388,923 SOL, an increase of about 2%. Quarter-to-date, SOL has outperformed the Nasdaq-100 by 39%, and DFDV’s stock has returned about twice SOL’s performance over the same period. DFDV also launched an ATM offering of up to $300 million of its Variable Rate Series C Perpetual Preferred Stock (CHAD), to be sold through R.F. Lafferty & Co. as sole sales agent.

The company intends to issue CHAD under the ATM at or above its $10.00 par value, with net proceeds primarily funding additional SOL purchases, advancing its stated “capital flywheel” strategy.

Positive

• SOL treasury increased by 55,491 SOL to approximately 2,388,923 SOL and equivalents since August 27, 2026
• SOL price performance is 39% better than the Nasdaq-100 quarter-to-date
• DFDV stock has returned about 2x SOL’s performance quarter-to-date
• $300 million CHAD preferred ATM adds flexible capital-raising capacity over time
• Planned CHAD issuance at or above $10.00 par value may limit discounting of new shares
• Net ATM proceeds are intended primarily for additional SOL purchases, reinforcing the treasury strategy

Negative

• ATM program authorizes up to $300 million in new CHAD preferred shares, adding potential future capital-structure overhang
• Ability to raise funds via the ATM is subject to market conditions, investor demand and the company’s capital needs

News Explained

The $300 million CHAD ATM is available capacity rather than a completed financing: DFDV says it has not raised the money immediately and is not obligated to sell shares, so any issuance remains dependent on market conditions, investor demand, and its capital needs.

Market Context

The Sep 8 CHAD launch raised approximately $11 million in gross proceeds, providing a directly relat...

Analysis

The Sep 8 CHAD launch raised approximately $11 million in gross proceeds, providing a directly related prior financing record for this announcement's broader ATM mechanism for additional SOL purchases.

Key Figures

SOL treasury: 2,388,923 SOL and SOL equivalents Treasury increase: 55,491 SOL Treasury growth: Approximately 2% +3 more

SOL treasury

2,388,923 SOL and SOL equivalents

After the latest purchase

Treasury increase

55,491 SOL

Latest purchase

Treasury growth

Approximately 2%

Since August 27, 2026

CHAD ATM capacity

Up to $300 million

Variable Rate Series C Perpetual Preferred Stock

CHAD issuance threshold

At or above $10.00 per share

CHAD par value

DFDV relative performance

2x

DFDV outperformance versus SOL quarter-to-date

Historical Context

3 past events · Latest: Sep 08

3 events

1. Sep 08

   CHAD offering close

   24h Move

   +2.0%

   Closed CHAD preferred offering; proceeds were expected to fund additional SOL.

2. Sep 04

   CHAD IPO pricing

   24h Move

   -3.5%

   Priced CHAD IPO at $8.00; proceeds included planned SOL acquisition.

3. Aug 31

   CHAD offering proposal

   24h Move

   -4.1%

   Proposed up to $20 million CHAD offering to support SOL acquisition.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

at-the-market, perpetual preferred stock, par value

3 terms

at-the-market financial

"established an at-the-market (“ATM”) offering program"

"At-the-market" is a method for companies to sell new shares of stock directly into the open market over time, rather than all at once. It allows companies to raise money gradually, similar to selling slices of a pie instead of the entire pie at once, which can help manage the sale's impact on the stock price. This approach gives investors a steady supply of shares while providing companies with flexible funding options.

perpetual preferred stock financial

"Variable Rate Series C Perpetual Preferred Stock"

A perpetual preferred stock is a type of share that behaves like a forever-lasting, fixed-income investment: it pays regular dividends and has no set maturity date, yet it represents ownership rather than a loan. It ranks ahead of common stock for dividend payments and in liquidation, so investors treat it as a mix between a bond and an equity stake; its value depends largely on the issuer’s credit and prevailing interest rates.

par value financial

"CHAD’s par value"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Quarter-to-date, SOL has outperformed the Nasdaq-100 by 39%, and DFDV has outperformed SOL by 2x over that same period

CHAD ATM issuance is expected to occur at or above $10.00 per share, CHAD’s par value

Latest purchase expands treasury to 2,388,923 SOL and SOL equivalents

BOCA RATON, FL, Sept. 14, 2026 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the "Company" or "DeFi Dev Corp."), the first U.S. public company with a treasury strategy built to accumulate and compound Solana ("SOL"), today announced that its total treasury holdings have grown by 55,491 SOL to approximately 2,388,923 SOL and SOL equivalents, an increase of approximately 2% since August 27, 2026, reflecting continued SOL purchases and organic treasury growth as the Company’s accumulation flywheel gains momentum.

The Company also announced that it has established an at-the-market (“ATM”) offering program for up to $300 million of its Variable Rate Series C Perpetual Preferred Stock (Nasdaq: CHAD) (“CHAD”). The shares will be offered pursuant to a sales agreement between the Company and R.F. Lafferty & Co., Inc., as sole sales agent. The Company intends to issue shares under the ATM program at or above $10.00 per share, CHAD’s par value. Net proceeds are intended primarily to fund additional SOL purchases.

Together, continued treasury growth and the new ATM capacity advance DFDV’s capital flywheel to raise capital, accumulate SOL, generate organic yield, and compound SOL per share (“SPS”) growth. With CHAD adding a new funding engine, the Company is expanding its ability to turn capital markets access into a larger productive asset base.

The SOL Accumulation Flywheel Is Gaining Momentum
“We are growing our SOL treasury, generating more organic yield, and delivering strong performance, with DFDV returning twice as much as SOL quarter-to-date,” said Joseph Onorati, Chief Executive Officer of DeFi Development Corp. “With a $300 million ATM now in place, we have the structure to scale CHAD into a meaningful new engine of growth—and we intend to  issue at or above $10.00 par. The flywheel is spinning, and we now have more capacity to put it to work.”

$300 Million CHAD ATM Provides Additional Funding Capacity
The ATM program allows the Company to raise capital through CHAD sales over time, subject to market conditions, investor demand and the Company’s capital needs. Establishing the program does not represent an immediate capital raise, and the Company is not obligated to sell any shares. All issuance under the program is intended to occur at or above $10.00 per share. Learn more about CHAD at www.defidevcorp.com/chad.

For more information, visit defidevcorp.com. To stay up to date with the latest developments and insights, subscribe to our blog.

About DeFi Development Corp.
DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer. The Company is also an AI-powered online platform that connects the commercial real estate industry by providing value-add services and software subscriptions to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage. The Company’s data and software offerings are generally offered on a subscription basis as software as a service.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding the anticipated issuance price of shares under the ATM program, the intended use of proceeds, and the Company’s ability to expand its SOL treasury and increase revenue, and can be identified by words such as "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated losses that the Company may incur as a result of a decrease in the market price of SOL; (ii) a failure for the demand for SOL, or activity on the SOL network, to continue to develop and grow as predicted in our DFDV Model or at all; (iii) volatility in our stock price, including due to future issuances of common stock and securities convertible into common stock; (iv) the effect of and uncertainties related to the ongoing volatility in interest rates; (v) our ability to achieve and maintain profitability in the future; (vi) the impact on our business of the regulatory environment and complexities of complying with such environment, including changes in securities laws or other laws or regulations; (vii) changes in the accounting treatment relating to the Company's SOL holdings; (viii) our ability to respond to general economic conditions; (ix) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (x) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth; and (xi) other risks and uncertainties more fully described in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC.

As a result of these matters, changes in facts, assumptions not being realized, or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:
ir@defidevcorp.com

Media Contact:
press@defidevcorp.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much has DeFi Development Corp’s SOL treasury grown recently?

Since August 27, 2026, DeFi Development Corp’s total treasury holdings have grown by 55,491 SOL to approximately 2,388,923 SOL and SOL equivalents, which the company describes as an increase of about 2%.

What are the key terms of the new CHAD at-the-market offering program?

The ATM program covers up to $300 million of Variable Rate Series C Perpetual Preferred Stock (CHAD). Shares may be sold from time to time through R.F. Lafferty & Co., Inc. as sole sales agent, with all issuance intended to occur at or above $10.00 per share, which is CHAD’s par value.

Is DeFi Development Corp obligated to issue CHAD shares under the ATM program?

No. Establishing the ATM does not represent an immediate capital raise, and the company is not obligated to sell any CHAD shares. The program allows capital raising over time, subject to market conditions, investor demand and the company’s capital needs.

How does the company intend to use net proceeds from CHAD ATM sales?

The company intends that net proceeds from CHAD issuance under the ATM program will be used primarily to fund additional SOL purchases, supporting its SOL accumulation and compounding strategy.