Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 135

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 135
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 be given the option to (1) cancel the redemption order; or (2) accept that the Trust will continue to attempt to complete the execution, which will delay the settlement date. With respect to a redemption order, between the Trust and the Authorized Participant, the Authorized Participant will be responsible for the dollar cost of the difference between the SOL price utilized in calculating the NAV on the trade date and the price realized in selling the SOL to raise the cash needed for the cash redemption order to the extent the price realized in selling the SOL is lower than the SOL price utilized in the NAV. To the extent the price realized is selling the SOL is higher than the price utilized in the NAV, the Authorized Participant shall get to keep the dollar impact of any such difference.

The transfers of SOL from the Trust’s Trading Balance to the Liquidity Provider’s account at the Prime Execution Agent or to the Prime Execution Agent is an “off-chain” transaction that is recorded in the books and records of the Prime Execution Agent.

The Trust’s Trading Balance with the Prime Execution Agent may not be funded with SOL on the trade date for the sale of SOL in connection with the redemption order, when SOL remains in the Trust’s Vault Balance with the SOL Custodian at the point of intended execution of a sale of SOL. In those circumstances the Trust may borrow Trade Credits in the form of SOL from the Trade Credit Lender, which allows the Trust to sell SOL through the Prime Execution Agent on the trade date, and the cash proceeds are deposited in the Trust’s Trading Balance with the Prime Execution Agent. For settlement of a redemption where Trade Credits were utilized, the Trust delivers cash to the Authorized Participant in exchange for Shares received from the Authorized Participant. In the event Trade Credits were used, the Trust will use the SOL moved from the Trust’s Vault Balance with the SOL Custodian to the Trading Balance with the Prime Execution Agent to repay the Trade Credits borrowed from the Trade Credit Lender.

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Transfers of SOL from the Trust’s Vault Balance to the Trust’s Trading Balance are “on-chain” transactions represented on the Solana blockchain.

SOL transactions that occur on the blockchain are susceptible to delays due to Solana network outages, congestion, or other problems or disruptions. To the extent that SOL transfers from the Trust’s Vault Balance to the Trust’s Trading Balance are delayed due to congestion or other issues with the Solana network or the Trust’s operations, redemptions in the Trust could be delayed.

Disruption of services at the Prime Execution Agent, SOL Cust