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# A Solana Treasury Company Just Opened a New Preferred Stock Funding Engine
- URL: https://www.pennystocks.news/dfdv-a-solana-treasury-company-just-opened-a-new-preferred-s/
- Published: 2026-09-20T23:00:08.000Z
- Updated: 2026-09-20T23:00:08.000Z
- Description: DeFi Development Corp. can now sell CHAD preferred shares into the open market on any given day and channel the proceeds straight into Solana. The treasury already holds nearly 2.4 million SOL.
- Author: PennyStocksNews Team
- Tags: nasdaq, ticker-dfdv

DeFi Development Corp. has set up a standing program to sell shares of its CHAD preferred stock into the open market over time, with all proceeds earmarked for Solana purchases. The program has a ceiling of **$300 million**, according to an 8-K filed with the SEC on September 14.

DeFi Development Corp. NASDAQ: DFDV 

An at-the-market program lets a company sell stock on any trading day, in whatever size the market will absorb, without going back to investors for a fresh offering each time. R.F. Lafferty & Co., Inc. is named as the sole sales agent. The company says it intends to issue CHAD shares at or above **$10.00 per share**, which is CHAD's par value, and is not obligated to sell any shares under the arrangement.

The company's SOL holdings grew to **nearly 2.4 million SOL** as of September 11, after adding about 55,500 SOL between August 27 and September 11, according to the same filing. Those holdings are deployed through staking and the company's own validator infrastructure.

Shares of the common stock **closed 21.20% higher at $6.0600** after the filings, on dollar volume of about $52.4 million across roughly 52,500 trades.

CHAD carries an annual dividend rate of **13%**, paid daily. Holders asking where those payments come from should read the September 16 SEC filing carefully: the company disclosed it has no accumulated earnings and profits and does not expect to generate them in the current year or the foreseeable future. For U.S. holders, that means distributions are more likely to be treated as a return of capital — reducing a holder's cost basis rather than triggering ordinary income tax — than as taxable dividends.