Company: HSDTW
Filing Date: 2025-04-22
Form Type: PRE 14A
Source: 0001104659-25-037535
Chunk: 12

Company: Solana Co
Filing Date: 2025-04-22
Form: PRE 14A
Chunk 12
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 the Company’s Common Stock. However, except for adjustments that may result from the treatment of fractional shares, as described

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below, or as a result of adjustments to the conversion prices of certain convertible securities, as described below, the reverse stock split will not affect any stockholder’s percentage ownership or proportionate voting power.

Based on the Company’s capitalization as of March 31, 2025, the principal effect of the reverse stock split (at a ratio between 2 and 250), not taking into account the treatment of fractional shares described under “Procedure for Effecting the Reverse Stock Split-Treatment of Fractional Shares” below, would be that:

•

the number of shares of the Company’s Common Stock issued and outstanding would be reduced from 6,126,778 shares to between approximately 24,507 shares and 3,063,389 shares;

•

the number of unissued shares of the Company’s Common Stock held in abeyance from warrant exercises would be reduced from 2,678,000 shares to between approximately 10,712 shares and 1,339,000 shares;

•

the number of shares of the Company’s Common Stock issuable upon the exercise of outstanding stock options would be reduced from 2,729,689 to between approximately 10,918 shares and 1,364,844 shares (and the respective exercise prices of the options would increase by a factor equal to the inverse of the split ratio);

•

the number of shares of the Company’s Common Stock issuable upon the exercise of outstanding warrants would be reduced from 7,701,548 to between approximately 30,806 shares and 3,850,774 shares (and the respective exercise prices of the warrants would increase by a factor equal to the inverse of the split ratio);

•

the aggregate number of shares of the Company’s Common Stock reserved for issuance, in connection with future awards under the 2022 Equity Incentive Plan and the 2021 Inducement Plan would be reduced from 123,989 to between approximately 495 shares and 61,994 shares;

•

the number of shares of the Company’s authorized Common Stock would remain unchanged at 150,000,000 shares;

•

the 10,000,000 shares of the Company’s authorized preferred stock would remain unchanged; and

•

the number of shares of the Company’s Common Stock that are authorized, but unissued and unreserved, would increase from 130,639,