TREE NEWS update: DeFi Development Corp has expanded its Solana treasury to 2.39 million SOL and established a $300 million at-the-market offering for its CHAD perpetual preferred stock. The ATM gives the Solana treasury company a new channel to raise capital tied to its preferred equity. No pricing or timing for sales under the program was disclosed.
DeFi Development Corp lifts Solana treasury to 2.39M SOL, sets $300M CHAD ATM
The preferred-equity ATM matters more than the headline treasury figure: it gives a Solana-focused balance-sheet company a standing, discretionary funding channel rather than a one-off raise. That structure ties capital formation directly to the preferred instrument, so the pace of any drawdowns becomes a read on both investor appetite for Solana-linked vehicles and the company's willingness to keep accumulating. With no pricing or timing disclosed, whether the facility is actually used — and how that interacts with the treasury — is the open question.
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