DFDV's $300M CHAD ATM Puts a $10 Floor on Solana Accumulation

DeFi Development Corp disclosed the purchase of 55,491 SOL in conjunction with an at-the-market offering of $300 million tied to its CHAD preferred stock. StockTitan confirmed the treasury holds roughly 2,388,923 SOL and SOL equivalents, identifying R.F. Lafferty & Co. as the sole sales agent for the venture.

The $300 million ATM entails no immediate need to raise capital. DFDV holds no immediate duty to sell equity, and any issuance depends on market conditions. Management indicated they intend to launch CHAD solely when the price hits or surpasses $10.00 per share, the stock's declared par value. This floor distinguishes the new program from its earlier offering, which ended on September 8 at about $11 million.

Joseph Onorati, CEO of DeFi Development, connected the structure to the firm’s "accumulation flywheel." "With a $300 million ATM now live, we have the structure to grow CHAD into a major new growth engine, and we plan to issue at or above $10.00 par. The flywheel is spinning, and we now hold greater capacity to execute it," he said.

Capital generated from the CHAD ATM is directed primarily toward additional SOL purchases. DFDV observed that SOL outperformed the Nasdaq-100 by 39% quarter-to-date, while DFDV equity exceeded SOL by 2x over the identical period. The fresh 55,491 SOL was worth roughly $5.78 million, according to the company's filing. By leveraging the ATM to secure funds without affecting common shareholders, the firm maintains its position as the first U.S. publicly traded company focused on a Solana accumulation strategy.