DeFi Development Corp. Plans to Raise $20 Million to Increase SOL Holdings
DeFi Development Corp. (Nasdaq: DFDV) plans to publicly issue floating-rate Series C perpetual preferred stock, aiming to raise up to $20 million. The funds will be used to purchase more SOL, other crypto-related investments, and for general corporate purposes. The preferred stock has a set price of $10 per share, with an initial annual dividend rate of 13%. Last week, DFDV increased its holdings by approximately 19,000 SOL at an average price of $98.14, and currently holds about 2.33 million SOL and equivalent assets.
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