DeFi Development Corp. Authorizes CHAD Repurchase Program for Future Use

Company authorized to repurchase up to all CHAD shares outstanding from time to time

CHAD brings Digital Credit 2.0 to income investors: a 13% annual dividend rate supported by a productive SOL treasury

BOCA RATON, FL, Oct. 06, 2026 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the "Company" or "DeFi Dev Corp."), the first U.S. public company with a treasury strategy built to accumulate and compound Solana ("SOL"), today announced that its Board of Directors has authorized a repurchase program for its Variable Rate Series C Perpetual Preferred Stock (“CHAD”).

Under the program, the Company is authorized to repurchase up to all CHAD shares outstanding from time to time, including shares issued in the future. The authorization is not limited to the amount of CHAD currently outstanding and is not exhausted by prior repurchases, providing the Company with ongoing flexibility as CHAD grows.

The Company does not currently intend to repurchase CHAD. Its near-term objective remains for CHAD to establish itself at or around its $10.00 par value, and the Company does not intend to initiate repurchases before CHAD first reaches par. Thereafter, if CHAD trades below par, the Company may use the repurchase program opportunistically when it believes doing so represents an attractive use of capital.

“Our first objective is simple: get CHAD to par,” said Joseph Onorati, Chief Executive Officer of DeFi Development Corp. “We are not announcing that we intend to buy CHAD today. We are putting the infrastructure in place so that, once CHAD has established itself at par, we have another tool available if it subsequently trades below par.”

“We think about CHAD as a long-term funding platform, not a one-time issuance. This authorization reflects that. It covers every share outstanding today and automatically extends to CHAD we may issue in the future. As CHAD scales, we want the flexibility to both issue CHAD when the market values it appropriately and repurchase it when we believe the market is offering it back to us at an attractive discount.”

The Board authorization permits repurchases from time to time through open-market purchases or privately negotiated transactions, subject to applicable securities laws and other restrictions. The timing, price and amount of any repurchases will be determined at the Company’s discretion. The repurchase program has no fixed expiration date and does not obligate the Company to repurchase any particular number of shares.

Learn more about CHAD at www.defidevcorp.com/chad.

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About DeFi Development Corp.

DeFi Development Corp. (Nasdaq: DFDV) has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is also an AI-powered online platform that connects the commercial real estate industry by providing value-add services and software subscriptions to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage. The Company’s data and software offerings are generally offered on a subscription basis as software as a service.

Forward Looking Statements and Metrics

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding expected September 30, 2026 metrics and growth in SPS, NAV per share, SOL holdings and cash balances; anticipated changes in borrowings and liquidity; future SOL accumulation and per-share accretion; capital raising and deployment, the anticipated issuance price of shares under the ATM program, the intended use of proceeds, and the Company’s ability to expand its SOL treasury and increase revenue, and can be identified by words such as "anticipate," "intend," "plan," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated losses that the Company may incur as a result of a decrease in the market price of SOL; (ii) a failure for the demand for SOL, or activity on the SOL network, to continue to develop and grow as predicted in our DFDV Model or at all; (iii) volatility in our stock price, including due to future issuances of common stock and securities convertible into common stock; (iv) the effect of and uncertainties related to the ongoing volatility in interest rates; (v) our ability to achieve and maintain profitability in the future; (vi) the impact on our business of the regulatory environment and complexities of complying with such environment, including changes in securities laws or other laws or regulations; (vii) changes in the accounting treatment relating to the Company's SOL holdings; (viii) our ability to respond to general economic conditions; (ix) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (x) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth; and (xi) other risks and uncertainties more fully described in the section captioned "Risk Factors" in the Company's most recent Annual Report on Form 10-K and other reports we file with the SEC.

As a result of these matters, changes in facts, assumptions not being realized, or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

SPS and NAV per share are supplemental analytical measures used by management to assess the Company’s treasury strategy and economic exposure attributable to common shareholders. For purposes of this release, NAV reflects the value of SOL and SOL equivalents, plus cash and cash equivalents, less SOL-denominated liabilities, outstanding principal of out-of-the-money convertible debt, other debt, and the aggregate notional amount of preferred equity. NAV per share reflects that amount divided by adjusted common shares outstanding, which includes ordinary shares outstanding, shares underlying restricted stock units and vested options, and applicable dilution from assumed exercise of in-the-money warrants and conversion of in-the-money convertible securities. Related adjustments to NAV reflect assumed warrant exercise proceeds and the removal of debt assumed converted, as applicable, to avoid double counting. SPS expresses the corresponding net SOL exposure per adjusted common share, with the SPS growth comparison applying the updated, liability-adjusted methodology and a SOL reference price to both measurement dates. These measures depend on valuation and capital structure assumptions and do not represent GAAP book value per share, liquidation proceeds, or shareholder investment returns. Preliminary estimates remain subject to completion of the Company’s financial close and verification of underlying balances and share counts, and final results may differ materially.

Investor Contact:
ir@defidevcorp.com

Media Contact:
press@defidevcorp.com