A $SOL treasury company listed on Nasdaq is starting to “raise rates” on its preferred stock.
DeFi Development ($DFDV) announced that the annualized dividend rate on its variable-rate perpetual preferred stock, CHAD, is increasing from 13% to 14%, effective November 2. Based on a $10 par value, the annual dividend per share rises from $1.30 to $1.40, an increase of about 7.7%. Dividends are paid on business days and accrue cumulatively—provided the board declares them and there are legally distributable funds.
The company put it plainly: future fundraising by CHAD will go primarily toward expanding its $SOL treasury; staking and validator rewards support this capital structure. Citing The Block: roughly another 22,000 $SOL equivalent was added last week, bringing total holdings to about 2.59 million.
This is not the same as Strive’s SATS offering—here, a $SOL treasury is adjusting the dividend rate on its preferred stock, while over there, a Bitcoin treasury is setting the issue price for a new preferred stock offering. The coupon is variable and dividends aren’t guaranteed, so don’t treat “14%” as a sure thing.
This is not investment advice.