DeFi Development Corp increases SOL treasury while CHAD preferred stock hits record high

DeFi Development Corp added about 22,070 SOL and SOL equivalents last week, bringing its treasury to roughly 2,586,282 tokens, valued around $287 million with SOL near $111. Concurrently, its CHAD perpetual preferred stock, which pays a 13% annual dividend on a $10 stated amount, reached record highs in the week ended October 9, approaching $10 after an IPO priced at $8. The company funds its SOL purchases through a $300 million at-the-market program, where closer trading to the $10 par value allows each new share to buy more SOL.