Company: HSDTW
Filing Date: 2025-01-31
Form Type: S-3
Source: 0001104659-25-008126
Chunk: 14

Company: Solana Co
Filing Date: 2025-01-31
Form: S-3
Chunk 14
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,221 shares of its common stock. The public offering price per share of common stock and accompanying Series A Warrants and Series B Warrants is $2.25, the public offering price per Pre-Funded Warrant and accompanying Series A Warrants and Series B Warrants is $2.249, resulting in gross proceeds to the Company of approximately $6.4 million before deducting the Placement Agent’s fees and other estimated offering expenses. The 2024 Public Offering closed on May 9, 2024. Each of the selling stockholders participated in the 2024 Public Offering.

#### Warrant Exercise
On January 21, 2025, the Company entered into warrant exercise Inducement Letters with each of the selling stockholders, pursuant to which the selling stockholders each agreed to exercise for cash their Series A Warrants and Series B Warrants to purchase 4,971,110 shares of the Company’s common stock, in the aggregate, at a reduced exercise price of $0.751 per share, in exchange for the Company’s agreement to issue new Inducement Warrants on substantially the same terms as the Series A Warrants and Series B Warrants, to purchase up to 6,213,888 of the Inducement Warrant Shares. The Company received aggregate gross proceeds of approximately $3.7 million from the exercise of the Public Warrants by the selling stockholders.

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TABLE OF CONTENTS

### DESCRIPTION OF CAPITAL STOCK
The following description of our capital stock and provisions of our Certificate of Incorporation and Second Amended and Restated Bylaws are summaries. You should also refer to the Certificate of Incorporation and the Second Amended and Restated Bylaws, which are filed as exhibits to the registration statement of which this prospectus is a part.

#### General
Our Certificate of Incorporation authorizes us to issue up to 150,000,000 shares of common stock and 10,000,000 shares of preferred stock, par value $0.001 per share, all of which shares of preferred stock are currently undesignated. Our board of directors may establish the rights and preferences of the preferred stock from time to time.

As of December 31, 2024, there were (i) 3,728,172 shares of common stock outstanding; (ii) no outstanding shares of preferred stock; (iii) 2,092,461 shares of common stock issuable upon the exercise of outstanding stock options; (iv