The Block (@TheBlockCo): THE BLOCK: DeFi Development Corp. authorized a program to repurchase up to all outstanding shares of its CHAD preferred stock, including shares it may…
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THE BLOCK: DeFi Development Corp. authorized a program to repurchase up to all outstanding shares of its CHAD preferred stock, including shares it may issue in the future, giving the company flexibility to buy back the securities if they trade below their $10 par value. $DFDV The $WSOL treasury company said it does not currently intend to repurchase CHAD and first wants the security to establish itself at or around par. The open-ended authorization adds a potential capital-allocation tool to DFDV's existing $300 million CHAD ATM.