Company: HSDTW
Filing Date: 2025-02-07
Form Type: 8-K
Source: 0001558370-25-000717
Chunk: 2

Company: Solana Co
Filing Date: 2025-02-07
Form: 8-K
Item: Item 8.01
Chunk 2
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Item 8.01

Other Events.

As previously disclosed, on January 21, 2025, the Company entered into warrant exercise inducement offer letters (the “ Inducement Letters”) with certain holders (the “ Holders”) of its existing Series A warrants and Series B warrants to purchase shares of the Company’s Class A common stock (the “ Existing Warrants”), pursuant to which the Holders agreed to exercise for cash their Existing Warrants to purchase an aggregate of 4,971,110 shares of the Company’s common stock, in the aggregate, at a reduced exercise price of $0.751 per share, in exchange for the Company’s agreement to issue new Series C Warrants and Series D Warrants (the “ Inducement Warrants”) on substantially the same terms as the Existing Warrants described below, to purchase up to 6,213,888 shares of the Company’s common stock (the “ Inducement Warrant Shares”).

The exercise of the Inducement Warrants and issuance of the Inducement Warrant Shares is subject to stockholder approval in accordance with Nasdaq Listing Rule 5635(d) of The Nasdaq Stock Market LLC (the “ Stockholder Approval”). The Company agreed to hold an annual or special meeting of stockholders on or prior to the date that is ninety (90) calendar days following the date of the Inducement Letters for the purpose of obtaining such Stockholder Approval pursuant to, with the recommendation of the Company’s board of directors that such proposal is approved.

In connection with the foregoing, the Company expects to hold its 2025 Annual Meeting of Stockholders (the “ Annual Meeting”) on Monday, April 21, 2025 and has fixed the closing of business on March 12, 2025 as the record date for the Annual Meeting. Because the date of the Annual Meeting has been changed by more than 30 days from the anniversary date of the 2024 Annual Meeting of Stockholders, the Company is providing the due date for submission of any qualified stockholder proposal.

Pursuant to applicable Securities and Exchange Commission (“ SEC”) rules and the Company’s bylaws, the deadline for the submission of proposals to be included in the Company’s proxy materials is the close of business on February 17, 2025, and the deadline for the submission of director nominations to be brought before the Annual Meeting by a stockholder is the close of business on February 17, 2025. Written notice for any such proposals, nominations