DeFi Development Corp. priced its CHAD Stock offering at $8 per share, selling 1.375 million shares for approximately $11 million in gross proceeds. The variable-rate Series C perpetual preferred shares will trade on Nasdaq under CHAD and have a $10 stated amount, a cumulative initial annual dividend rate of 13% payable daily, and a first payment scheduled for Oct. 1, 2026. The board can adjust the dividend rate. The stock is nonconvertible and ranks ahead of common stock for dividends and liquidation proceeds. Proceeds will support purchases of Solana and other digital assets, strategic transactions, growth initiatives and a dividend reserve. DeFi Development, which rebranded from Janover Inc. in 2025, says it has approximately 2.33 million SOL or equivalent assets and operates a Solana-focused treasury strategy that includes staking. Underwriters have a 30-day option to buy up to 206,250 additional shares, while settlement is scheduled for Sept. 8, 2026.