Company: HSDTW
Filing Date: 2025-09-18
Form Type: 8-K
Source: 0001104659-25-091281
Chunk: 5

Company: Solana Co
Filing Date: 2025-09-18
Form: 8-K
Item: Item 3.02
Chunk 5
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Item 3.02 Unregistered Sales of Equity Securities

The disclosure required by this Item is included
in Item 1.01 of this Current Report and is incorporated herein by reference. Based in part upon the representations of the Purchasers
in the Purchase Agreement, the offering and sale of the Shares, the Pre-Funded Warrant Shares, the Stapled Warrants and the Stapled Warrant
Shares, was made in reliance upon an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended,
and/or Rule 506(b) of Regulation D promulgated thereunder, and applicable state securities laws.

Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Director Appointment

On September 18, 2025, the Board of Directors
of the Company (the “ Board”), pursuant to its powers under the Certificate of Incorporation, as amended, and the Second Amended
and Restated Bylaws of the Company, approved an increase in the size of the Board from six (6) to seven (7) directors and the
appointment of Joseph Chee as Executive Chairman of the Board to fill the vacancy created by such increase, which appointment became effective
on September 18, 2025. Mr. Chee will serve for a one-year term until our 2026 annual meeting of stockholders and until his successor
is duly elected and qualified or until his earlier death, resignation or removal.

Mr. Chee has served as the Founder and Chairman
of Summer Capital Limited. Summer Capital is an investment company dedicated to investing in early growth state companies in “new
economy” sectors such as fintech, blockchain infrastructure and application, consumption technology and healthcare. He has also
served as the Vice Chairman of AMINA Bank AG, a company focused on providing a bridge between traditional finance and digital assets while
operating as a FINMA-regulated cryptocurrency bank and offering services such as secure custody, crypto trading, staking, lending, asset
management and tokenized products to professional investors, corporations, family offices and institutions globally, since April 2020.
In addition, Mr. Chee is the founder of Summer Healthcare Fund, L. P. since February 2021 and Summer Everest Ecosystem Fund,
L. P. since September 2023. Each are investment companies focused on healthcare and biotechnology and blockchain ecosystem and financial