Company: HSDTW
Filing Date: 2025-09-18
Form Type: 8-K
Source: 0001104659-25-091281
Chunk: 2

Company: Solana Co
Filing Date: 2025-09-18
Form: 8-K
Item: Item 1.01
Chunk 2
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 S. Treasury Department regulations.

Each of the Cash Purchasers have agreed to not
to sell, transfer, pledge, hedge, or otherwise dispose of any Cash Securities until the resale registration statement is declared effective
(the “ Effectiveness Date”), and with respect to 50% of the Cash Securities, until 30 calendar days following the Effectiveness
Date (the “ PIPE Lock-Up Period”), except with the Company’s prior written consent and subject to certain customary exceptions.
Each of the Cryptocurrency Purchasers have agreed to not to sell, transfer, pledge, hedge, or otherwise dispose of any Cryptocurrency
Securities during the PIPE Lock-Up Period, except with the Company’s prior written consent and subject to certain customary exceptions.

On September 15, 2025, the Company entered
into a Strategic Advisor Agreement (the “ Strategic Advisor Agreement”) with Pantera Capital Management LP, a Delaware limited
partnership (“ Pantera”) and Summer Wisdom Holdings Limited (“ Summer” and with Pantera, the “ Advisors”),
pursuant to which the Company engaged each of Pantera and Summer to provide strategic advice and guidance relating to the Company’s
business, operations, growth initiatives and industry trends in the crypto technology sector. In connection with the closing of the Offering,
on September 18, 2025, the Company issued warrants to purchase 5,175,883 shares of Common Stock to Pantera (the “ Pantera
Base Advisor Warrants”) and (ii) warrants to purchase 2,218,236 shares of Common Stock to Summer (the “ Summer
Base Advisor Warrants” and together with the Pantera Base Advisor Warrants, the “ Base Advisor Warrants”). Upon the
exercise of each Stapled Warrant, each of Pantera and Summer shall receive an additional grant of warrants to purchase an amount of shares
of Common Stock equal to their respective portion of 5% of the shares of Common Stock issued upon such exercise (the Performance Advisor
Warrants, and together with the Base Advisor Warrants, the “ Advisor Warrants”). The exercise price per share of the Advisor
Warrants shall be equal to $0.001 per underlying share of Common Stock.

The exercise of the Advisor Warrants is subject
to stockholder approval and such warrants will not be exercisable for Common Stock until such stockholder approval is received.

The Strategic Advisor Warrants and underlying
shares of Comon Stock Shares are being offered in reliance upon the exemption from the registration requirements of the Securities Act,
pursuant to