Company: HSDTW
Filing Date: 2025-03-25
Form Type: S-3/A
Source: 0001104659-25-027793
Chunk: 14

Company: Solana Co
Filing Date: 2025-03-25
Form: S-3/A
Chunk 14
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holders each agreed to exercise for cash their Series A Warrants and Series B Warrants to purchase 4,971,110 shares of the Company’s common stock, in the aggregate, at a reduced exercise price of $0.751 per share, in exchange for the Company’s agreement to issue new Inducement Warrants on substantially the same terms as the Series A Warrants and Series B Warrants, to purchase up to 6,213,888 of the Inducement Warrant Shares. The Company received aggregate gross proceeds of approximately $3.7 million from the exercise of the Public Warrants by the selling stockholders.

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TABLE OF CONTENTS

### DESCRIPTION OF CAPITAL STOCK
The following description of our capital stock and provisions of our Certificate of Incorporation and Second Amended and Restated Bylaws are summaries. You should also refer to the Certificate of Incorporation and the Second Amended and Restated Bylaws, which are filed as exhibits to the registration statement of which this prospectus is a part.

#### General
Our Certificate of Incorporation authorizes us to issue up to 150,000,000 shares of common stock and 10,000,000 shares of preferred stock, par value $0.001 per share, all of which shares of preferred stock are currently undesignated. Our board of directors may establish the rights and preferences of the preferred stock from time to time.

As of December 31, 2024, there were (i) 3,728,172 shares of common stock outstanding; (ii) no outstanding shares of preferred stock; (iii) 2,092,461 shares of common stock issuable upon the exercise of outstanding stock options; (iv) 6,472,934 shares of common stock issuable upon the exercise of outstanding warrants; and (v) no restricted stock units.

#### Common Stock

#### Voting
Each holder of our common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Our stockholders do not have cumulative voting rights. Because of this, the holders of a majority of the shares of common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they should so choose.

#### Dividends
Subject to preferences that may be applicable to any then-outstanding preferred stock, holders of our common stock are entitled to receive ratably those dividends, if any, as may be