Company: HSDTW
Filing Date: 2025-06-06
Form Type: 424B4
Source: 0001104659-25-056970
Chunk: 36

Company: Solana Co
Filing Date: 2025-06-06
Form: 424B4
Chunk 36
---
 applicable fundamental transaction), such holder’s Placement Agent Warrants and generally including any merger with or into another entity, sale of all or substantially all of our assets, tender for cash in an amount equal to the value of the remaining unexercised portion of such holder’s Placement Agent Warrants, determined in accordance with the Black Scholes option pricing model as more particularly set forth in the Placement Agent Warrants.

Transferability. Subject to applicable laws, a Placement Agent Warrant may be transferred at the option of the holder upon surrender of the Placement Agent Warrant to us together with the appropriate instruments of transfer.

Fractional Shares. No fractional shares of common stock will be issued upon the exercise of the Placement Agent Warrants. Rather, the number of shares of common stock to be issued will be rounded down to the nearest whole number.

Trading Market. There is no established trading market for the Placement Agent Warrants, and we do not expect a market to develop. We do not intend to apply for a listing of the Placement Agent Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Placement Agent Warrants will be limited. The common stock issuable upon exercise of the Placement Agent Warrants is currently listed on Nasdaq.

No Rights as a Stockholder. Except as otherwise provided in the Placement Agent Warrants or by virtue of the holders’ ownership of shares of common stock, the holders of the Placement Agent Warrants do not have the rights or privileges of holders of our shares of common stock, including any voting rights, until such Placement Agent Warrant holders exercise their Placement Agent Warrants.

Governing Law. The Placement Agent Warrants are governed by New York law.

<div align='center'>22</div>

TABLE OF CONTENTS

PLAN OF DISTRIBUTION We are offering on a reasonable best efforts basis up to 2,768,600 shares of Common Stock or up to 2,768,600 pre-funded warrants with each share of Common Stock accompanied with one common warrant and each pre-funded warrant accompanied with one common warrant at a combined public offering price of $3.27 per share and common warrants, for gross proceeds of up to $9.1 million, before deduction of placement agent commissions and offering expenses, in a best-efforts offering. There is no minimum amount of proceeds that is a condition to closing of this offering. The actual amount of gross proceeds, if any, in this offering could vary substantially from the gross proceeds from the sale of the maximum number of securities