Company: HSDTW
Filing Date: 2025-06-06
Form Type: 424B4
Source: 0001104659-25-056970
Chunk: 26

Company: Solana Co
Filing Date: 2025-06-06
Form: 424B4
Chunk 26
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 of our common stock as of March 31, 2025, was approximately $3.13 per share, after giving effect to the issuance of 88,010 shares of common stock in the April 2025 Private Placement. After giving effect to the sale by us in this offering of 2,768,600 shares of common stock and accompanying common warrants to purchase 2,768,600 shares of common stock at the public offering price of $3.27 per share of common stock and accompanying common warrant, and after deducting the estimated underwriting discounts and commissions and our estimated offering expenses, and excluding proceeds, if any, from the exercise of any common warrants issued pursuant to this offering or any resulting accounting associated with the warrants, our pro forma, as adjusted net tangible book value as of March 31, 2025 would have been $8.95 million or $2.74 per share. This amount represents an immediate increase in pro forma, as adjusted net tangible book value of approximately $0.39 per share to our existing stockholders, and an immediate dilution of $0.53 per share to new investors participating in this offering. Dilution per share to new investors is determined by subtracting adjusted as adjusted net tangible book value per share after this offering from the public offering price per share paid by new investors.

| ​ | Public offering price per share of common stock and accompanying warrant                                                      | ​ | ​ | ​ | ​ |     ​ | ​ | ​ | ​ | ​ | $ | 3.27 | ​ | ​ |
| ​ | Net tangible book value per share at March 31, 2025                                                                           | ​ | ​ | ​ | $ |  3.13 | ​ | ​ | ​ | ​ | ​ |    ​ | ​ | ​ |
| ​ | Pro forma adjustment to net tangible book value per share                                                                     | ​ | ​ | ​ | ​ | -0.00 | ​ | ​ | ​ | ​ | ​ |    ​ | ​ | ​ |
| ​ | Pro forma, net tangible book value per share after giving effect to the pro forma adjustments                                 | ​ | ​ | ​ | $ |  3.13 | ​ | ​ | ​ | ​ | ​ |    ​ | ​ | ​ |
| ​ | Decrease to pro forma net tangible book value per share attributable to this offering                                         | ​ | ​ | ​ | ​ | -0.39 | ​ | ​ | ​ | ​ | ​ |    ​ | ​