POPA ReconDeFi Dev Corp Closes $11M SOL-Backed CHAD Offering
DeFi Dev Corp Closes $11M SOL-Backed CHAD Offering DeFi Dev closed its CHAD offering, an $11M SOL-backed preferred stock it bills as the first digital credit instrument of its kind to trade on a major exchange. The Nasdaq-listed treasury company (DFDV) priced 1.375 million shares of its Variable Rate Series C Perpetual Preferred Stock at $8 apiece, carrying a 13% initial annual dividend. Modeled on Strategy's preferred-stock playbook, CHAD lets DeFi Dev raise capital to buy more SOL without diluting common shareholders. The offering drew participation from Fundstrat's Tom Lee, and follows th…
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