Nasdaq-listed DeFi Development Corp. has greenlit an initiative to buy back up to the entirety of its outstanding CHAD preferred stock, which encompasses any shares that might be issued down the line. This grants the enterprise the agility to purchase these securities back should their market price drop beneath their $10 par value.
The Solana treasury enterprise holds no immediate plans to acquire CHAD right now, desiring instead for the asset to stabilize at or close to its par value first, based on the official statement.
Chief Executive Officer Joseph Onorati stated that their primary goal is straightforward: bring CHAD to par. They are not declaring an immediate intention to buy CHAD today, but rather establishing the framework so that once CHAD proves itself at par, another mechanism remains accessible if it drops beneath par afterward.
This unlimited authorization introduces an additional capital-allocation mechanism alongside DeFi Development’s current $300 million CHAD at-the-market offering, which management previously indicated will fund further SOL acquisitions. The enterprise distributed its initial CHAD dividend on October 1.
Onorati noted that they view CHAD as a sustainable funding vehicle instead of a singular offering, and this clearance mirrors that perspective.
On Monday, DeFi Development Corp. reported that early third-quarter projections indicate the net asset value per share grew by more than 100 percent as its Solana reserves expanded to 2.56 million SOL during the previous week.
DFDV equities advanced by 3.3 percent during Tuesday trading.
Originally published at https://www.theblock.co/news/markets/2026-10-06-defi-development-chad-preferred-stock-repurchase-program-417819.
