Company: HSDTW
Filing Date: 2025-06-06
Form Type: 424B4
Source: 0001104659-25-056970
Chunk: 14

Company: Solana Co
Filing Date: 2025-06-06
Form: 424B4
Chunk 14
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 Warrants are being registered on the registration statement of which this prospectus is a part. If all of the Placement Agent’s Warrants are exercised on a zero cash basis at the floor price, an aggregate of 2,141,952 shares would be issued upon such zero cash exercise without payment to the Company of any additional cash. See “Plan of Distribution” on page 23of this prospectus.

#### Use of Proceeds
We estimate that the net proceeds from this offering, after deducting estimated underwriting discounts and commissions and estimated offering expenses, will be approximately $8.07 million, based on a combined public offering price of $3.27 per share of common stock and accompanying common warrant.

We currently intend to use the net proceeds of this offering to repay the outstanding Notes and for working capital and general corporate purposes.

For additional information please refer to the section entitled “Use of Proceeds” on page 14of this prospectus.

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#### Lock-up Restrictions
We and each of our directors, officers and certain stockholders are subject to certain lock-up restrictions as identified in the section titled “Plan of Distribution.”

#### Risk Factors
Investing in our securities involves a high degree of risk and purchasers of our securities may lose their entire investment. See the information under the caption “Risk Factors” beginning on page 9of this prospectus and the other information included elsewhere and incorporated by reference in this prospectus for a discussion of factors you should consider before deciding to invest in our securities. You should be aware that Nasdaq may delist our Common Stock for public interest concerns. See “Risk Factors — Nasdaq may delist our Common Stock for public interest concerns.”

#### Exchange Listing
Our common stock is listed on Nasdaq under the ticker symbol “HSDT.” There is no established trading market for the common warrants or the pre-funded warrants, and we do not expect a trading market to develop. We do not intend to list the common warrants or the pre-funded warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the common warrants and the pre-funded warrants will be extremely limited.

The number of shares of our common stock to be outstanding after this offering as shown above is based on 528,016 shares outstanding as of April 30, 2025, and excludes:

•

181,971 shares of our common stock issuable upon exercise of outstanding options at a weighted average exercise price of $112.73 per share