Company: HSDTW
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001104659-25-035130
Chunk: 22

Company: Solana Co
Filing Date: 2025-04-15
Form: DRS
Chunk 22
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 factors, including the various factors described under “Risk Factors” in this prospectus and the documents incorporated by reference herein, as well as the amount of cash used in our operations. As a result, our management will have broad discretion over the uses of the net proceeds we receive in connection with the securities offered pursuant to this prospectus and investors will be relying on the judgment of our management regarding the application of the proceeds.

Pending the application of the net proceeds as described above, we will hold the net proceeds from this offering in short-term, interest-bearing securities.

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TABLE OF CONTENTS CONFIDENTIAL TREATMENT REQUESTED PURSUANT TO 17 C.F.R. SECTION 200.83

CAPITALIZATION The following table sets forth our cash and cash equivalents, debt obligations, and capitalization as of December 31, 2024 (i) on an actual basis, and (ii) on an as adjusted basis to give effect to the issuance and sale of shares of our common stock or pre-funded warrants in this offering at an assumed public offering price of $ per share, the last reported trading price of our common stock on Nasdaq on , 2025, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

| ​                                                                                                                                                                                                                | ​ | ​ | As of December 31, 2024(in thousands) |   |          |   |   |   |             |   |   |   | ​ |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|:--|:--------------------------------------|:--|---------:|:--|:--|:--|:------------|:--|:--|:--|:--|
| ​                                                                                                                                                                                                                | ​ | ​ | Actual                                |   |          |   | ​ | ​ | As adjusted |   |   |   | ​ |
| Cash and cash equivalents                                                                                                                                                                                        | ​ | ​ | ​                                     | $ |    1,088 | ​ | ​ | ​ | ​           | $ |   | ​ | ​ |
| Stockholders’ (deficit) equity:                                                                                                                                                                                  | ​ | ​ | ​                                     | ​ |        ​ | ​ | ​ | ​ | ​           | ​ | ​ | ​ | ​ |
| Preferred Stock, $0.001 par value; 10,000,000 shares authorized; no sharesissued and outstanding as of December 31, 2024                                                                                         | ​ | ​ | ​                                     | ​ |