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Nasdaq-listed DeFi Development Corp. (DFDV) announced on Monday that preliminary third-quarter estimates indicate double-digit gains in Solana (SOL) per share and over 100% expansion in net asset value (NAV) per share as of September 30 compared to August 12.
The firm has acquired approximately 26,203 SOL since September 28, elevating its total reserves to roughly 2.56 million SOL and Solana equivalents valued at $302 million, which represents an increase of about 11% since its August 12 earnings report.
In September, DFDV set up a $300 million at-the-market offering for its CHAD preferred stock, with funds primarily designated for purchasing additional SOL. Management has characterized this approach as a “capital flywheel” intended to raise funds, accumulate SOL, produce yield, and elevate the amount of SOL per share.
The Solana treasury enterprise also reported that cash and cash equivalents more than doubled while liabilities denominated in SOL decreased, though it cautioned that these initial figures are still subject to final adjustment.
“The DFDV ship is flying at lightning speed. We have continued buying SOL and have grown our treasury by 11% since August 12,” CEO Joseph Onorati stated in a release. “Those gains are adding up. We expect to report double-digit growth in SOL per share and more than a doubling of NAV per share since our August update. Our focus remains on making each common share represent more SOL over time.”
Significantly, DeFi Development distributed CHAD’s inaugural dividend on October 1, representing a major milestone for its variable-rate preferred stock listed on the Nasdaq. CHAD features a 13% annual dividend yield on its $10 stated value, which equals $1.30 per share every year at the present rate.
DFDV introduced CHAD in September through an $11 million issuance, positioning the perpetual preferred equity as another funding vehicle for acquiring SOL without diluting common stockholders. The organization subsequently created the larger $300 million ATM facility to scale that capital-raising potential.
Shares of DFDV climbed around 2% during Monday’s early trading session. The stock remains down nearly 70% across the preceding year.
Originally published at https://www.theblock.co/news/markets/2026-10-05-defi-development-nav-per-share-doubles-2-56-million-sol-417674.
