DeFi Development targets up to $20 million IPO of Series C perpetual preferred stock - DFDV News | RalliesDeFi Development targets up to $20 million IPO of Series C perpetual preferred stock
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DFDV• Preferred stock offering terms
- DeFi Development Corp. filed for an IPO of up to USD 20 million of Variable Rate Series C Perpetual Preferred Stock.
- CHAD Stock carries a stated amount of USD 10 per share; initial variable dividend rate set at 13% per year.
- The underwriter option covers up to 15% more shares.
- The stock is perpetual with no maturity, and R.F. Lafferty serves as sole book-running manager.
Use of proceeds and dividend reserve
- Proceeds are earmarked for corporate uses, including SOL accumulation.
- A dividend reserve of USD 1.3 per share is planned at closing, covering 12 months of payouts at the 13% rate.
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