Company: HSDTW
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001104659-25-066159
Chunk: 15

Company: Solana Co
Filing Date: 2025-07-07
Form: 424B5
Chunk 15
---
 read this prospectus supplement, the accompanying prospectus and any related free writing prospectus, together with the information incorporated herein or therein by reference as described under the section titled “Incorporation of Certain Information by Reference,” and with the understanding that our actual future results may materially differ from what we expect.

Except as required by law, forward-looking statements speak only as of the date they are made, and we assume no obligation to update any forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available.

<div align='center'>S-8</div>

TABLE OF CONTENTS

### USE OF PROCEEDS
We may issue and sell shares of our common stock having aggregate sale proceeds of up to $25,000,000 from time to time. There can be no assurance that we will sell all or any shares in this offering. Because there is no minimum offering amount required as a condition of this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. We currently intend to use any net proceeds from the sale of securities in this offering for working capital and general corporate purposes.

The amount and timing of our use of the net proceeds from any offerings hereunder will depend on a number of factors, including the factors described under “Risk Factors” in this prospectus supplement and in the documents incorporated by reference herein, as well as the amount of cash used in our operations. As of the date of this prospectus supplement, we cannot specify with certainty the particular uses for the net proceeds from this offering. Accordingly, our management will have broad discretion in the timing and application of these proceeds. Pending the application of the net proceeds, we may invest the proceeds in short-term, interest-bearing instruments or other investment-grade securities.

<div align='center'>S-9</div>

TABLE OF CONTENTS

### PLAN OF DISTRIBUTION
We have previously entered into the Sales Agreement, under which we may offer and sell up to $25,000,000 of shares of our common stock from time to time through the Agent, pursuant to this prospectus supplement and the accompanying prospectus. Sales of shares of our common stock will be made at market prices by any method that is deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act, in ordinary brokers’ transactions, to or through a market maker, on or through Nas