Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 129

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 129
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 (i.e., carried to the eighth decimal place) are disregarded for purposes of the computation of the Basket SOL Amount.

If the Trust accepts the in-kind purchase order, [●] will transmit to the Authorized Participant, via electronic mail message or other electronic communication, no later than 8:00 p.m. ET on the date such purchase order is received, or deemed received, a copy of the purchase order endorsed “Accepted” by the Trust and indicating the Basket SOL Amount that the Authorized Participant or its designated agent or client must deliver to the Prime Execution Agent in exchange for each Basket. Prior to the Trust Administrator’s acceptance, a purchase order will only represent the Authorized Participant’s unilateral offer to deposit SOL in exchange for Baskets and will have no binding effect upon the Trust, the Trust Administrator, [●], the SOL Custodian, the Prime Execution Agent or any other party.

The Basket SOL Amount necessary for the creation of a Basket changes from day to day. As of [●], 2025, a Basket requires delivery of [●] SOL. On each day that the Listing Exchange is open for regular trading, the Trust Administrator will adjust the quantity of SOL constituting the Basket SOL Amount as appropriate to reflect sales of SOL, any loss of SOL that may occur, and accrued expenses. The computation is made as promptly as practicable after 4:00 p.m. ET. [●] will determine the Basket SOL Amount for a given day by multiplying the NAV by the number of Shares in each Basket (10,000) and dividing the resulting product by that day’s SOL Market Price. The Basket SOL Amount so determined will be made available to all Authorized Participants and will be made available on the Sponsor’s website for the Shares.

The Authorized Participant or its designated agent or client will deposit SOL related to the Authorized Participant’s purchase order to the Trust’s Trading Balance. This transfer is an “off-chain” transaction that is represented in the books and records of the Prime Execution Agent. In the event the Authorized Participant, its designated agent or client, has not deposited the SOL to the Trust’s Trading Account at the Prime Execution Agent by the applicable time on the settlement date of the in-kind creation order, the Authorized Participant will be given the option to (1) cancel the in-kind creation order; (2) delay settlement of the order to enable delivery of SOL at a later date approved by the Trust Administrator; or (3) accept that the Trust will execute a SOL transaction required for the creation and the Authorized Participant will deliver