Company: HSDTW
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001104659-25-044128
Chunk: 12

Company: Solana Co
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 12
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 at such time; and

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the trading volume of the Company’s Common Stock at such time.

#### Impact of the Reverse Stock Split, if Implemented
The Company’s Certificate of Incorporation, as previously corrected (the “

#### Certificate of Incorporation
”), currently authorizes the issuance of 160,000,000 shares of capital stock, consisting of 150,000,000 shares of Class A Common Stock, par value $0.001 per share, and 10,000,000 shares of Preferred Stock. On April 25, 2025, the Company had: 528,061 shares of Common Stock issued and outstanding, 146,933 unissued shares of Common Stock held in abeyance from warrant exercise, 181,978 shares of Common Stock issuable upon the exercise of outstanding options, 513,434 shares of Common Stock issuable upon the exercise of outstanding warrants and 8,267 shares of Common Stock reserved for future issuance under the Company’s 2022 Equity Incentive Plan and 2021 Inducement Plan.

If approved and effected, the reverse stock split will automatically apply to all shares of the Company’s Common Stock, and each stockholder will own a reduced number of shares of 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 April 25, 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:

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the number of shares of the Company’s Common Stock issued and outstanding would be reduced from 528,061 shares to between approximately 2,112 shares and 264,030 shares;

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the number of unissued shares of the Company’s Common Stock held in abeyance from warrant exercises would be reduced from 146,933 shares to between approximately 587 shares and 73,466 shares;

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the number of shares of the Company’s Common Stock issuable upon the exercise of outstanding stock options would be reduced from 181,978 to between approximately 727