Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 38

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 38
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 underlying the warrants will be subject to a floor price. The floor price will be equal to 30% of the most recent Nasdaq Official Closing Price of the shares of common stock preceding execution of the Securities Purchase Agreement.

Exercisability. The Placement Agent Warrants will be exercisable, at the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of shares of our common stock purchased upon such exercise. A holder (together with its affiliates) may not exercise any portion of such holder’s Placement Agent Warrants to the extent that the holder would own more than 4.99% of the outstanding common stock immediately after exercise, except that upon at least 61 days’ prior notice from the holder to us, the holder may increase the amount of ownership of outstanding stock after exercising the holder’s warrants up to 9.99% of the number of shares of our common stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Placement Agent Warrants.

Cashless Exercise. If, at the time a holder exercises its Placement Agent Warrant, there is no effective registration statement registering, or the prospectus contained therein is not available for an issuance of the shares underlying the Placement Agent Warrant to the holder, then in lieu of making the cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise (either in whole or in part) the net number of shares of common stock determined according to a formula set forth in the Placement Agent Warrant.

Zero Cash Exercise. Under the zero cash exercise option of the Placement Agent Warrant, during the period of 90 calendar days following the issue date of the Placement Agent Warrant, a holder of the Placement Agent Warrant has the right to receive, without payment of any additional cash to the Company, an aggregate number of shares equal to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cash exercise of the Placement Agent Warrant and (y) two (2).

Fundamental Transactions. In the event of any fundamental transaction, as described in the Placement Agent Warrants and generally including any merger with or into another entity, sale of all or substantially

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all of our assets, tender offer or exchange offer, or reclassification of our common