Company: HSDTW
Filing Date: 2025-03-26
Form Type: 424B5
Source: 0001104659-25-028242
Chunk: 10

Company: Solana Co
Filing Date: 2025-03-26
Form: 424B5
Chunk 10
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, the Agent may purchase shares of our common stock as principal.

We will pay the Agent compensation for its services in acting as agent in the sale of our common stock at a commission rate equal to 3.0% of the gross sales price from sales of shares pursuant to the Sales Agreement. We have also agreed to reimburse the Agent for reasonable legal expenses incurred in connection with this offering up to $40,000, in addition to up to $3,000 per quarter for legal expenses in connection with this offering. We estimate that the total expenses for the offering, excluding compensation and reimbursements payable to the Agent under the Sales Agreement, will be approximately $100,000.

Each time we wish to issue and sell our shares of common stock under the Sales Agreement, we will notify the Agent of the number of shares to be issued, the dates on which such sales are anticipated to be made, any limitation on the number of shares to be sold in any one day and any minimum price below which sales may not be made. Once we have so instructed Agent, unless the Agent declines to accept the terms of such notice, the Agent has agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such shares up to the amount specified on such terms. The obligations of the Agent under the Sales Agreement to sell our shares of common stock are subject to a number of conditions that we must meet.

Settlement for sales of common stock will occur on the second trading day following the date on which any sales are made (and on and after May 28, 2024, on the first trading day), or any such other settlement cycle as may be in effect pursuant to Rule 15c6-1 under the Exchange Act, in return for payment of the net proceeds to us. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

We will report at least quarterly the number of shares of common stock sold through the Agent under the Sales Agreement, the net proceeds to us and the compensation paid by us to the Agent in connection with the sales of shares of common stock.

Under the Sales Agreement, we may also sell shares of common stock to the Agent as principal for its own account, at a price to be agreed upon at the time of sale. If we sell shares of common stock to the Agent as principal, we will enter into a separate terms agreement with the Agent and we will describe the terms in the agreement in a separate prospectus supplement or pricing supplement.

In connection with the sale