Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 19

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 19
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 price falls below Nasdaq’s minimum bid price as a result of this offering.

Because of the highly dilutive nature of this offering, Nasdaq may delist our Common Stock for public interest concerns or because our stock falls below Nasdaq’s minimum bid price as a result of this offering, even if we are otherwise able to regain compliance for continued listing on Nasdaq. A number of Nasdaq-listed companies have filed public disclosures regarding the receipt of notification letters indicating that Nasdaq made the determination to delist such companies as a result of public interest concerns arising from the issuance of warrants with similar terms to, and similar potential dilutive impact as, the common warrants in this offering. While we believe that the Special Meeting Stockholder Approvals mitigates the public interest concerns that Nasdaq has identified, there can be no assurance that Nasdaq will agree and our common stock may be delisted from Nasdaq. Additionally, warrants with similar terms issued by other Nasdaq-listed companies have caused such Nasdaq-listed companies’ stock to drop below Nasdaq’s minimum bid price. Therefore, even if we consummate this offering at a price above Nasdaq’s minimum bid price, there can be no assurance that our stock will not drop below such price, which may cause Nasdaq to delist our common stock.

The public offering price will be set by our Board and does not necessarily indicate the actual or market value of our shares of common stock.

Our Board, or a committee designated by the Board, will approve the public offering price and other terms of this offering after considering, among other things: the current market price of our shares of common stock; trading prices of our common stock over time; the volatility of our shares of common stock; our current financial condition and the prospects for our future cash flows; the availability of and likely cost of capital of other potential sources of capital; the characteristics of interested investors and market and economic conditions at the time of the offering. The public offering price is not intended to bear any relationship to the book value of our assets or our past operations, cash flows, losses, financial condition, net worth or any other established criteria used to value securities. The public offering price may not be indicative of the fair value of the common stock.

We will likely not receive any additional funds upon the exercise of the common warrants.

The common warrants may be exercised by way of a zero cash exercise during the period of 90 calendar days following the issue date of the common warrants, in which case the holder would not pay a cash purchase price