Company: HSDTW
Filing Date: 2025-09-15
Form Type: 424B5
Source: 0001104659-25-089776
Chunk: 18

Company: Solana Co
Filing Date: 2025-09-15
Form: 424B5
Chunk 18
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138,927 shares of our common stock to be reserved for potential future issuance pursuant to the Helius Medical Technologies, Inc. 2021 Inducement Plan (the “2021 Plan”) and the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan (the “2022 Plan”);

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124,200 shares of our common stock issuable upon exercise of stock options that were granted to the directors and employees of the Company on July 2, 2025; and

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Our planned issuance of shares and warrants to purchase shares in the PIPE Transaction.

Unless otherwise indicated, this prospectus reflects and assumes there have been no exercise of outstanding options or warrants after June 30, 2025.

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TABLE OF CONTENTS

### RISK FACTORS
Investing in our common stock involves a high degree of risk. Before you decide to invest in our common stock, you should carefully consider the risks described in the section captioned “ Risk Factors ” in our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q, which are incorporated by reference herein in their entirety, and those risk factors set forth below, together with the other information in this prospectus supplement or any prospectus supplement and documents incorporated by reference in this prospectus or any prospectus supplement. The risks described in our most recent Annual Report on Form 10-K, as amended, our most recent Quarterly Report on Form 10-Q and below are not the only ones facing our company. Additional risks and uncertainties may also impair our business operations. If any of the risks described in our most recent Annual Report on Form 10-K, as amended, our most recent Quarterly Report on Form 10-Q and the other filings incorporated by reference herein, or below, occurs, our business, financial condition, results of operations and future growth prospects could be harmed. In these circumstances, the market price of our common stock could decline, and you may lose all or part of your investment.

#### Risks Related to this Offering
We have broad discretion in the use of the net proceeds from this offering and our existing cash and may not use them effectively.

Our management will have broad discretion in the application of the net proceeds from this offering, including for any of the purposes described in the section entitled “Use of Proceeds,” as well as our existing cash and cash equivalents, and you will be relying on the judgment of our management regarding such application. We intend