Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 37

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 37
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 terms and provisions of the form of Placement Agent Warrant for a complete description of the terms and conditions of the Placement Agent Warrants.

Duration, Exercise Price and Form . Each Placement Agent Warrant will have an initial exercise price of $9.79 per share, which equals 225% of the public offering price per common stock and common warrants. The Placement Agent Warrants will be immediately exercisable upon issuance and will expire two and one-half (2.5) years after the original issuance date. The exercise price and number of shares of common stock issuable upon exercise are subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our common stock and the exercise price. In addition, at 4:01 p.m. Eastern time on the 5th trading day after the date of issuance (the “First Reset Date”), the exercise price of the Placement Agent Warrants will be reset to reflect a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest daily volume weighted average price (“VWAP”) during the period beginning on the 3 rd trading day after the date of issuance and ending on the First Reset Date, and (b) 50% of the Latest Nasdaq Closing Price; and the number of shares issuable upon exercise will be increased such that the aggregate exercise price of the Placement Agent Warrants on the issuance date for the shares of common stock underlying the Placement Agent Warrants then outstanding shall remain unchanged. Subsequently, at 4:01 p.m. Eastern time on the 10th trading day after the date of issuance (the “Second Reset Date”), the exercise price of the Placement Agent Warrants will be reset to reflect a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest VWAP during the period beginning on the 8 th trading day after the date of issuance and ending on the Second Reset Date, and (b) 30% of the Latest Nasdaq Closing Price; and the number of shares issuable upon exercise will be increased such that the aggregate exercise price of the Placement Agent Warrants on the issuance date for the shares of common stock underlying the Placement Agent Warrants then outstanding shall remain unchanged. The Placement Agent Warrants will be issued in certificated form. Any reduction to the exercise price of the warrants and resulting increase in the shares of common stock