DeFi Development has authorized an open-ended repurchase program for its Variable Rate Series C Perpetual Preferred Stock, known as CHAD, the company said on Tuesday. Under the program, the company may repurchase up to all CHAD shares outstanding from time to time, including shares issued in the future. DeFi Development does not currently intend to repurchase CHAD, and its near-term objective remains for CHAD to establish itself at or around its $10.00 par value. The firm said it will not initiate repurchases before CHAD first reaches par. Thereafter, if CHAD trades below par, DeFi Development may use the repurchase program when it believes doing so represents an attractive use of capital.
DeFi Development Corp.DeFi Development authorizes an open-ended buyback program for its CHAD preferred shares, but says it does not currently intend to repurchase them.
