Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 21

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 21
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 broad discretion in the use of our existing cash, cash equivalents and the net proceeds from this offering and may not use them effectively.

Our management will have broad discretion in the application of our existing cash, cash equivalents and the net proceeds from this offering, including for any of the purposes described in the section entitled “Use of Proceeds,” and you will not have the right or opportunity as part of your investment decision to assess whether such proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of our existing cash, cash equivalents and the net proceeds from this offering, their ultimate use may vary substantially from their currently intended use. Our management might not apply our existing cash, cash equivalents and the net proceeds from this offering in ways that ultimately increase the value of your investment. The failure by our management to apply these funds effectively could harm our business.

The exercise price of certain of our existing warrants may be decreased by this offering.

Purchasers in this offering may experience additional dilution as a result of the re-setting of the exercise price of the warrants issued in August 2022 (the “2022 Warrants”) if the public offering price of the shares of common stock (or pre-funded warrants and accompanying common warrants is below the current exercise price of the 2022 Warrants. In such case, we will receive a reduced level of proceeds from any exercise of the 2022 Warrants.

The market price of our common stock may be highly volatile, and you could lose all or part of your investment.

The trading price of our common stock has been and is likely to continue to be volatile. This volatility may prevent you from being able to sell your securities at or above the price you paid for your securities. Our stock price could be subject to wide fluctuations in response to a variety of factors, which include:

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whether we achieve our anticipated corporate objectives;

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termination of the lock-up agreement or other restrictions on the ability of our stockholders and other security holders to sell shares after this offering;

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changes in revenue or earnings estimates or publication of research reports and recommendations by financial analyst;

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failure to meet analysts’ revenue or earnings estimates;

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speculation in the press or investment community;

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strategic actions by us or our competitors, such as acquisitions or restructuring;

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proposed or adopted regulatory changes or developments;

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anticipated or pending investigations, proceedings or litigation that involve or affect us;

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changes in the market valuations of other