Company: HSDTW
Filing Date: 2025-09-15
Form Type: 424B5
Source: 0001104659-25-089776
Chunk: 8

Company: Solana Co
Filing Date: 2025-09-15
Form: 424B5
Chunk 8
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 of the PIPE Transaction is expected to occur on or about September 18, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the PIPE Transaction to fund the acquisition of SOL, the native cryptocurrency of the Solana Foundation blockchain, through open market purchases only and the establishment of the Company’s Solana treasury operations, as well as for working capital, general corporate purposes and to pay all transaction fees and expenses related thereto. The Company will not use the net proceeds from the PIPE Transaction: (a) for the redemption of any outstanding common stock or common stock equivalents of the Company, (b) for the settlement of any outstanding litigation or (c) in violation of the Foreign Corrupt Practices Act of 1977, as amended or the Office of Foreign Assets Control of the U.S. Treasury Department regulations.

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**TABLE OF CONTENTS

Pursuant to the Purchase Agreements, the Company agreed to use commercially reasonable efforts to file a registration statement with the U.S. Securities and Exchange Commission, within 30 days of the closing of the Offering registering the resale of the common stock sold in the PIPE Transaction, the Pre-Funded Warrants, the Pre-Funded Warrant Shares, the Stapled Warrants, the Stapled Warrant Shares, and certain securities to be issued to the Company’s strategic advisor.

The transactions contemplated by the Securities Purchase Agreements (including the related PIPE Transaction and ancillary documents) have not closed as of the date of this prospectus supplement. Completion remains subject to various conditions and uncertainties, including customary closing conditions, and there can be no assurance that these transactions will be consummated on the terms described herein or at all. These matters involve risks that could cause actual results to differ materially from current expectations. For additional information, see “Cautionary Note Regarding Forward-Looking Information” and “Risk Factors” in this prospectus supplement and the documents incorporated by reference.**

#### Advisory Agreements
On September 15, 2025, the Company entered into a Strategic Advisor Agreement (the “Strategic Advisor Agreement”) with Pantera Capital Management LP, a Delaware limited partnership (“Pantera”) and Summer Wisdom Holdings Limited (“Summer” and with Pantera, the “Advisors”), pursuant to which the Company engaged each of Pantera and Summer to provide strategic advice and guidance relating to the Company’s business, operations, growth initiatives and industry trends in the crypto technology sector for an initial