Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 17

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 17
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 (which equals 225% of the public offering price per common stock and common warrants), expire two and one-half (2.5) years after the original issuance date, and are otherwise in substantially similar form to the common warrants issued in the offering. The Placement Agent Warrants and the shares of common stock underlying the Placement Agent Warrants are being registered on the registration statement of which this prospectus is a part. If all of the Placement Agent’s Warrants are exercised on an zero cash basis at the floor price, an aggregate of 2,586,194 shares would be issued upon such zero cash exercise without payment to the Company of any additional cash. See “Plan of Distribution” on page 23of this prospectus.

#### Use of Proceeds
We estimate that the net proceeds from this offering, after deducting estimated underwriting discounts and commissions and estimated offering expenses, will be approximately $13.6 million, assuming a combined public offering price of $4.35 per share of common stock and accompanying common warrant, which was the last reported sale price of our common stock on Nasdaq on May 21, 2025.

We currently intend to use the net proceeds of this offering to repay the outstanding Notes and for working capital and general corporate purposes.

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TABLE OF CONTENTS

For additional information please refer to the section entitled “Use of Proceeds” on page 14of this prospectus.

#### Lock-up Restrictions
We and each of our directors, officers and certain stockholders are subject to certain lock-up restrictions as identified in the section titled “Plan of Distribution.”

#### Risk Factors
Investing in our securities involves a high degree of risk and purchasers of our securities may lose their entire investment. See the information under the caption “Risk Factors” beginning on page 9of this prospectus and the other information included elsewhere and incorporated by reference in this prospectus for a discussion of factors you should consider before deciding to invest in our securities. You should be aware that Nasdaq may delist our Common Stock for public interest concerns. See “Risk Factors — Nasdaq may delist our Common Stock for public interest concerns.”

#### Exchange Listing
Our common stock is listed on Nasdaq under the ticker symbol “HSDT.” There is no established trading market for the common warrants or the pre-funded warrants, and we do not expect a trading market to develop. We do not intend to list the common warrants or the pre-funded warrants on any securities exchange or other trading market. Without