Company: HSDTW
Filing Date: 2025-06-06
Form Type: 424B4
Source: 0001104659-25-056970
Chunk: 24

Company: Solana Co
Filing Date: 2025-06-06
Form: 424B4
Chunk 24
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 purposes.

We will be repaying an aggregate of $1,560,000 of the Notes, which become due on the earlier of July 24, 2025 and the closing date of a registered offering on Form S-1. The Notes do not bear any interest rate, but were issued at an original issue discount of 20%.

The amounts and timing of our actual expenditures will depend on numerous 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

CAPITALIZATION The following table sets forth our cash and cash equivalents, debt obligations, and capitalization as of March 31, 2025: (i) on an actual basis; (ii) on a pro forma basis, to give further effect to the April 2025 Private Placement; and (iii) on a pro forma as adjusted basis to also give effect to the issuance and sale of shares of our common stock or pre-funded warrants and common warrants in this offering at the public offering price of $3.27 per common stock and common warrant, and after deducting placement agent fees and estimated offering expenses payable by us, and the repayment of outstanding Notes.

| (in thousands, except share amounts)                                                                                                                                                                      
 Assets                                                                                                                                                                                                    | ​ 
 ​ | ​ 
 ​ | Actual 
 ​      | ​ |        ​ | ​ | ​ 
 ​ | ​ 
 ​ | ProForma 
 ​        | ​ |        ​ | ​ | ​ 
 ​ | ​ 
 ​ | Pro FormaAs Adjusted 
 ​                    | ​ |        ​ | ​ | ​ 
 ​ |
|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:--|:--|:-------|:--|---------:|:--|:--|:--|:---------|:--|---------:|:--|:--|:--|:---------------------|:--|---------:|:--|:--|
| Cash and cash equivalents                                                                                                                                                                                 | ​ | ​ | ​      | $ |