Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 44

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 44
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. As a result, the price of the common stock may be higher than the price that might otherwise exist in the open market. A penalty bid is an arrangement permitting the placement agent to reclaim the selling concession otherwise accruing to a syndicate member in connection with the offering if the common stock originally sold by such syndicate member are purchased in a syndicate covering transaction and therefore have not been effectively placed by such syndicate member.

Neither the Company nor the placement agent make any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have on the price of the common stock. The placement agent is not obligated to engage in these activities and, if commenced, any of the activities may be discontinued at any time.

#### Passive Market Making
The placement agent may also engage in passive market making transactions in the common stock on Nasdaq in accordance with Rule 103 of Regulation M during a period before the commencement of offers or sales of the common stock in this offering and extending through the completion of distribution. A passive market maker must display its bid at a price not in excess of the highest independent bid of that security. However, if all independent bids are lowered below the passive market maker’s bid, that bid must then be lowered when specified purchase limits are exceeded.

#### Other Relationships
The placement agent and its affiliates may provide from time to time in the future, certain commercial banking, financial advisory, investment banking and other services to the Company and its affiliates in the ordinary course of their business, for which they may receive customary fees and commissions. From time to time, the placement agent and its affiliates may effect transactions for their own account or the account of customers, and hold on behalf of themselves or their customers, long or short positions in the Company’s debt or equity securities or loans.

#### Transfer Agent and Registrar
Our transfer agent and the registrar is Equiniti Trust Company, LLC.

#### Listing
The common stock are listed for trading on the Nasdaq Capital Market under the symbol “HSDT.”

#### Selling Restrictions
This prospectus does not constitute an offer to sell to, or a solicitation of an offer to buy from, anyone in any country or jurisdiction (i) in which such an offer or solicitation is not authorized, (ii) in which any person making such offer or solicitation is not qualified to do so or (iii) in which any such offer or solicitation would otherwise be unlawful. No action has been taken that would, or is intended to, permit a public offer of the securities