Company: HSDTW
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001104659-25-066159
Chunk: 7

Company: Solana Co
Filing Date: 2025-07-07
Form: 424B5
Chunk 7
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, we received formal notification from Nasdaq confirming that we had regained compliance with the Minimum Bid Price Requirement. On June 20, 2025, we filed a current report on Form 8-K disclosing that we believe we are in compliance with the Stockholder’s Equity Requirement; however, we have not yet received formal notification from Nasdaq confirming such compliance.

If our common stock is delisted from Nasdaq, our ability to raise capital through public offerings of our securities and to finance our operations could be adversely affected. We also believe that delisting would likely result in decreased liquidity and/or increased volatility in our common stock and could harm our business and future prospects. In addition, we believe that, if our common stock is delisted, our stockholders would likely find it more difficult to obtain accurate quotations as to the price of the common stock and it may be more difficult for stockholders to buy or sell our common stock at competitive market prices, or at all.

#### Special Meeting of Stockholders
At a special meeting of our stockholders held on May 23, 2025 (the “Special Meeting”), our stockholders: (i) approved an amendment to our Certificate of Incorporation to effect a reverse split of common stock at a ratio of 1-to-2 to 1-to-250 to be determined at the discretion of our Board of Directors,

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whereby each outstanding 2 to 250 shares would be combined, converted and changed into 1 share of Common Stock; (ii) approved an amendment to our Certificate of Incorporation to increase the number of authorized shares of common stock to up to 800,000,000 shares; (iii) approved, pursuant to Nasdaq listing rules, the issuance of up to 148,621,326 shares of Common Stock in a potential financing; (iv) approved an amendment to the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan (the “2022 Plan”) to increase (the “2022 Plan Increase”) the number of shares available under the plan following this offering and the total dilution associated with a potential financing; and (v) approved authorization of one or more adjournments to the Special Meeting to solicit additional proxies in the event there were insufficient votes to approve any of the other proposals (collectively, the “Special Meeting Stockholder Approvals”).

#### Corporate Information
We were originally incorporated in British Columbia, Canada on March 13, 201