Company: HSDTW
Filing Date: 2025-10-20
Form Type: S-3ASR
Source: 0001104659-25-100503
Chunk: 10

Company: Solana Co
Filing Date: 2025-10-20
Form: S-3ASR
Chunk 10
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 The Company has scheduled a special meeting of stockholders to obtain Stockholder Approval for October 30, 2025.

We received aggregate gross proceeds of approximately $500 million from the PIPE Offerings, before deducting placement agent fees and other offering expenses. The PIPE Offerings closed on September 18, 2025. We intend to use the net proceeds from the PIPE Offerings to fund the acquisition of SOL, the native cryptocurrency of the Solana Foundation blockchain, through open market purchases only and the establishment of the Company’s Solana treasury operations, as well as for working capital, general corporate purposes and to pay all transaction fees and expenses related thereto. In connection with the announcement of the PIPE Offerings, we announced the launch of our digital asset treasury strategy, pursuant to which we plan to pursue a number of strategic initiatives to acquire Solana and other digital assets.

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TABLE OF CONTENTS

#### ATM Program
On September 15, 2025, the Company entered into a Sales Agreement (the “Sales Agreement”) with Clear Street LLC and Maxim Group LLC (each, an “Agent,” and, together, the “Agents”), as co-sales agents, pursuant to which the Company may offer and sell shares of Common Stock from time to time having an aggregate sales price of up to $92.8 million (the “ATM Program”).

Upon delivery of a placement notice, and subject to the terms and conditions of the Sales Agreement, the Agents may sell the Shares by any method that is deemed an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended, or any other method permitted by law, which may include negotiated transactions or block trades. The Company may sell the shares of Common Stock through the Agents in amounts and at times to be determined by the Company from time to time subject to the terms and conditions of the Sales Agreement, but neither it nor the Agents have an obligation to sell any of the shares of Common Stock in the ATM Program. No assurance can be given that the Company will sell any shares of Common Stock under the Sales Agreement, or, if it does, as to the price or the amount of shares of Common Stock that it sells or the dates when such sales will take place. The Company or the Agents may suspend or terminate the ATM Program upon notice to the other parties and subject to other conditions. The Agents will use commercially reasonable efforts basis to effect the sales consistent with