Company: HSDTW
Filing Date: 2025-09-15
Form Type: 8-K
Source: 0001104659-25-089774
Chunk: 1

Company: Solana Co
Filing Date: 2025-09-15
Form: 8-K
Item: Item 1.01
Chunk 1
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 36 months after the closing of the Cash Offering
or (ii) all of the Cash Stapled Warrants issued in the Cash Offering are exercised in full. If the daily volume-weighted average
price of the Common Stock is above 200% of the share offering price during any 20 trading days in a 30-trading day period (the “ Measurement
Period”) and for each of the last five (5) consecutive trading days during the Measurement Period, at the election of the
Company, the Company can require the Cash Stapled Warrants be exercised.

Additionally, on September 15, 2025, the
Company entered into securities purchase agreements (the “ Cryptocurrency Securities Purchase Agreements,” and together
with the Cash Securities Purchase Agreements, the “ Securities Purchase Agreements”) with certain accredited investors
(the “ Cryptocurrency Purchasers,” and together with the Cash Purchasers, the “ Purchasers”) pursuant
to which the Company agreed to sell and issue to the Cryptocurrency Purchasers in a private placement (the “ Cryptocurrency Offering,”
and together with the Cash Offering, the “Offerings”) (i) pre-funded warrants (“Cryptocurrency Pre-Funded
Warrants” and, together with the Cash Pre-Funded Warrants, the “Pre-Funded Warrants”) to purchase shares
of Common Stock (“Cryptocurrency Pre-Funded Warrant Shares” and, together with the Cash Pre-Funded Warrant Shares,
the “Pre-Funded Warrant Shares”) at an offering price of $6.881 less $0.001 and (ii) stapled warrants (the “ Cryptocurrency
Stapled Warrants,” and together with the Cash Stapled Warrants, the “ Stapled Warrants”) to purchase shares
of Common Stock (the “ Cryptocurrency Stapled Warrant Shares,” and together with the Cash Stapled Warrant Shares, the
“ Stapled Warrant Shares”) at an exercise price of $10.134 per Cryptocurrency Stapled Warrant. In the Cryptocurrency
Offering, the Cryptocurrency Purchasers will tender either Unlocked SOL tokens or Locked SOL tokens to the Company as consideration for
the Cryptocurrency Pre-Funded Warrants and the Cryptocurrency Stapled Warrants.

The exercise of the Cryptocurrency Pre-Funded
Warrants and Cryptocurrency Stapled Warrants into Cryptocurrency Pre-Funded Warrant Shares and Cryptocurrency Stapled Warrant Shares,
respectively, is subject to stockholder approval (“ Stockholder Approval”) and such warrants will