DeFi Development Corp. said its initial public offering of CHAD Stock, a variable-rate C-series perpetual preferred stock, was priced Sept. 3 at $8 per share. The company is issuing 1.375 million shares for expected gross proceeds of about $11 million before underwriting discounts, commissions and offering expenses. Underwriters also received a 30-day option to purchase 206,250 additional shares. Net proceeds are intended for general corporate purposes, including purchases of Solana (SOL) and other digital assets, strategic transactions and growth initiatives. The transaction is scheduled to settle Sept. 8.