Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 214

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 214
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 SOL (or cash equivalent) will only be (1) owned by the Trust and held by the Custodian (or, if cash, used by the Sponsor to purchase SOL to be held by the Custodian); (2) disbursed (or converted to U.S. dollars, if necessary) to pay the Trust’s expenses; (3) distributed to Shareholders; or (4) liquidated in the event that the Trust terminates or as otherwise required by law or regulation.

During September 2021, the Trust began a continuous offering of an unlimited number of Shares with no par value, pursuant to Rule 506(c) of Regulation D under the Securities Act of 1933 (the “Rule 506(c) Offering”). All the Shares issued pursuant to this offering are “restricted securities,” subject to a minimum holding period of twelve months, unless the Trust becomes an SEC reporting entity, in which case the minimum holding period could be reduced to six months. The Trust sold 4,966,450of the Rule 506(c) Offering Shares.

In October 2021 and January 2024, the Trust offered the Shares registered in Connecticut and qualified in New York, pursuant to Rule 504 of Regulation D under the Securities Act of 1933 (the “Rule 504 Offering”), to accredited investors for up to $ 10,000,000in each offering. The Trust sold 1,487,509of the Rule 504 Offering Shares.

On June 15, 2022, the Trust’s Shares began trading on the OTCQB Market, operated by OTC Markets Group, Inc., under the ticker symbol “OSOL”, and subsequently moved up to the OTCQX Best Market.

On June 5, 2024, the Sponsor effected a 15-for-1 stock split, where Shareholders received fifteen Shares of the Trust for every one Share held as of the conversion date. The Shares in these financial statements were adjusted retroactively to reflect the stock splits.

As of June 30, 2025, there were 6,453,629Shares issued and outstanding. Of these Shares, 169,262are restricted securities that may not be resold without registration or an exemption from registration under the Securities Act of 1933, and 6,284,367are unrestricted securities. The Trust conducts its transactions in SOL, including receiving SOL for the creation of Shares, and delivering SOL in connection with the redemption of Shares (if a redemption program were to be established), and for the