Company: HSDTW
Filing Date: 2025-10-20
Form Type: S-3ASR
Source: 0001104659-25-100503
Chunk: 16

Company: Solana Co
Filing Date: 2025-10-20
Form: S-3ASR
Chunk 16
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 ownership dilution of their holdings. In turn, these resales could have the effect of depressing the market price for our shares of Common Stock.

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### USE OF PROCEEDS
All of the shares of Common Stock being offered hereby are being sold by Selling Stockholders. The Selling Stockholders listed under the heading “Selling Stockholders” in this prospectus or any applicable prospectus supplement will receive all of the net proceeds from the sales of shares of Common Stock. We will not receive any proceeds from the sale of Common Stock by the selling stockholders.

We, and not the Selling Stockholders, will pay the costs, expenses and fees in connection with the registration of the shares of Common Stock covered by this prospectus and any accompanying prospectus supplement, but the Selling Stockholders will pay all discounts, commissions or brokers’ fees or fees of similar securities industry professionals and transfer taxes, if any, attributable to sales of such shares of Common Stock.

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TABLE OF CONTENTS

SELLING STOCKHOLDERS The shares of Common Stock being offered by the Selling Stockholders consist of the (i) the PIPE Shares, (ii) the Pre-Funded Warrant Shares, (iii) the Stapled Warrant Shares and (iv) the Advisor Shares. For additional information regarding the issuance of the PIPE Shares, the Pre-Funded Warrants, and the Stapled Warrants in connection with the PIPE Offerings, see the section “Prospectus Summary — Recent Developments” above. We are registering the resale of such Securities in order to permit such Selling Stockholders to offer the Securities for resale from time to time. The Advisor Shares were issued pursuant to Section 4(a)(2) of the Securities Act on September 18, 2025. We may register additional shares for resale for the account of additional Selling Stockholders in the future through an accompanying prospectus supplement. We are registering the resale of the shares of Common Stock held by the Selling Stockholders to permit the Selling Stockholders to resell or otherwise dispose of such shares in the manner contemplated under “Plan of Distribution” in this prospectus and any accompanying prospectus supplement. As used in this prospectus, the term “selling stockholders” includes the selling securityholder listed in the table below, and the pledgees, donees, transferees, assignees, successors, designees, successors-in-interest and others who later come to hold any of the