DeFi Development Corp. authorizes launch of CHAD preferred stock repurchase program

DeFi Development Corp., a Nasdaq listed company, has authorized the launch of the CHAD Preferred Stock Repurchase Program, allowing for repurchases when the CHAD stock price falls below $10. The company currently has no repurchase plan, aiming to establish market liquidity and stabilize prices first. The authorization adds capital allocation tools to the $300 million CHAD ATM issuance plan. The company plans to raise funds to purchase SOL and has already paid CHAD's first dividend on October 1st.