DeFi Development announces proposed preferred stock offering

DeFi Development (DFDV) announced that, subject to market and other conditions, it intends to offer, in a public offering registered under the Securities Act of 1933, as amended, up to $65,000,000 of shares of 10.00% Series C Cumulative Perpetual Preferred Stock. The Company intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of SOL and for working capital. The holders of the Series C Perpetual Preferred Stock will be entitled to receive, when, as and if declared by the Company’s Board of Directors, only out of funds legally available for the payment of dividends, cumulative cash dividends at the annual rate of 10.00% of the $100.00 liquidation preference per year, quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, beginning on December 31, 2025. The Benchmark Company, a StoneX Company, is acting as the book-running manager for the offering. Craig-Hallum, Rosenblatt, and Haitong International are acting as co-managers for the offering.