DeFi Development Corp. Plans to Raise Up to $20 Million to Increase SOL Holdings

Odaily News: Solana treasury company DeFi Development Corp. (Nasdaq: DFDV) plans to publicly offer floating-rate Series C perpetual preferred stock, aiming to raise up to $20 million. The proceeds will be used to purchase more SOL, other crypto-related investments, and general corporate purposes. Each preferred share is priced at $10, with an initial annual dividend rate of 13%.

Previously, DFDV resumed increasing its SOL holdings last week, purchasing approximately 19,000 SOL at an average price of $98.14. It currently holds about 2.33 million SOL and equivalent assets. (The Block)