Company: HSDTW
Filing Date: 2025-10-02
Form Type: PRE 14A
Source: 0001104659-25-096093
Chunk: 48

Company: Solana Co
Filing Date: 2025-10-02
Form: PRE 14A
Chunk 48
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 number of shares of Cash Shares and the Pre-Funded Warrant Shares. Upon the exercise of each Stapled Warrant, each of Pantera and Summer shall receive an additional grant of Strategic Advisor Warrants to purchase an amount of shares of Common Stock equal to its allocable portion of 5% of the Stapled Warrant Shares underlying such exercised Stapled Warrant, such amount shall not exceed the issuance of 3,697,059 shares of Common Stock underlying the Strategic Advisor Warrants (such shares of Common Stock underlying the Strategic Advisor Warrants, the “Strategic Advisor Performance Shares” and, together with the Strategic Advisor Base Warrant Shares, the “ Strategic Advisor Warrant Shares ”). The exercise price per share for the Advisors of the Strategic Advisor Warrants shall be equal to $0.001 per Strategic Advisor Warrant Share. The Strategic Advisor Warrants shall be exercisable, in whole or in part, at any time and from time to time following the receipt of stockholder approval, for a period of five (5) years from the date of issuance. Summer is controlled by Joseph Chee, who was named Executive Chairman following the closing of the offerings. Nasdaq Listing Rules Because our Common Stock is traded on the Nasdaq Capital Market, we are subject to the Nasdaq Listing Rules, including Rule 5635(a). Pursuant to Listing Rule 5635(a), shareholder approval is required prior to the issuance of securities in connection with certain transactions where the number of shares of common stock to be issued is or will be equal to or in excess of 20% of the number of shares of common stock outstanding before the issuance of the stock or securities. Accordingly, to comply with Listing Rule 5635(a) and our undertakings in the Strategic Advisor Agreement, we are seeking shareholder approval of the issuance of shares of our Common Stock upon exercise of the Strategic Advisor Warrants. Consequences of Not Obtaining Stockholders Approval If stockholders do not vote in favor of this proposal, the Strategic Advisor Warrants will not be exercisable. Additional Information This summary is intended to provide you with basic information concerning the Strategic Advisor Agreement and the Strategic Advisor Warrants. The full text of the Strategic Advisor Agreement and the 28 TABLE OF CONTENTS form of Strategic Advisor Warrants were filed as exhibits to our Current Report on Form 8-K filed with the SEC on September 15, 2025. The Form 8-K and the documents filed as exhibits thereto are incorporated herein by reference. Vote Required The affirmative vote