Company: HSDTW
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001104659-25-066159
Chunk: 6

Company: Solana Co
Filing Date: 2025-07-07
Form: 424B5
Chunk 6
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16, 2025, we announced an additional authorized claim for payment for the PoNS Device from CignaHealth at an out-of-network price of over $19,000 for individuals with multiple sclerosis.

#### Nasdaq Matters
On August 9, 2024, we received a Notification Letter from the Listing Qualifications Staff (the “Staff”) of Nasdaq notifying us that because the closing bid price of our common stock was below $1.00 per share for the prior 30 consecutive business days, we are not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”).

In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we had a period of 180 calendar days from August 9, 2024, or until February 5, 2025, to regain compliance with the Minimum Bid Price Requirement.

On February 7, 2025, we received a letter from the Staff indicating our continued non-compliance with the Minimum Bid Price Requirement. The letter further informed us that our common stock would be delisted from The Nasdaq Capital Market unless we appeal the Staff’s delisting determination by requesting a hearing before the Nasdaq Hearings Panel (the “Panel”). We had a hearing with the Nasdaq Hearing Panel on March 18, 2025. At the hearing, we presented our plan for regaining compliance with the Minimum Bid Price Requirement and requested a further extension so that we may complete the execution of our plan. On March 31, 2025, we received written notice Staff stating that the Company no longer complies with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Requirement”) for continued listing on The Nasdaq Stock Market LLC because our stockholders’ equity, as reported in our Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2024, has fallen below $2.5 million.

On April 1, 2025, we received an additional letter (the “Extension Notice”) from Nasdaq notifying the Company that, following the hearing process with respect to our Minimum Bid Price Requirement deficiency, Nasdaq granted us an extension until June 30, 2025 to regain compliance with the Minimum Bid Price Requirement and Stockholders’ Equity Requirement.

On June 3, 2025