Company: HSDTW
Filing Date: 2025-06-06
Form Type: 424B4
Source: 0001104659-25-056970
Chunk: 1

Company: Solana Co
Filing Date: 2025-06-06
Form: 424B4
Chunk 1
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 we will likely not receive any additional funds and do not expect to receive any additional funds upon the exercise of the common warrants. This prospectus also relates to the shares of common stock that are issuable from time to time upon exercise of each of the common warrants. The common warrants also contain certain anti-dilution protections, as further described herein. Please see the section of this prospectus entitled “Description of the Securities We Are Offering” for further information.

In addition, at 4:01 p.m. Eastern time on the 5th trading day after the date of issuance (the “First Reset Date”), the exercise terms of the common warrants will be reset to reflect a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest daily volume weighted average price (“VWAP”) during the period beginning on the 3 rd trading day after the date of issuance and ending on the First Reset Date, and (b) 50% of the most recent Nasdaq Official Close Price preceding execution of the securities purchase agreement (the “Latest Nasdaq Closing Price”), while the number of shares issuable upon exercise will be increased such that the aggregate exercise price of the common warrants on the issuance date for the shares of common stock underlying the common warrants then outstanding shall remain unchanged. Subsequently, at 4:01 p.m. Eastern time on the 10th calendar day after the date of issuance (the “Second Reset Date”), the exercise terms of the common warrants will be reset to reflect a price equal

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to the lower of (i) the exercise price then in effect and (ii) the greater of (a) 80% of lowest VWAP during the period beginning on the 8 th calendar day after the date of issuance and ending on the Second Reset Date, and (b) 30% of the Latest Nasdaq Closing Price, while the number of shares issuable upon exercise will be increased such that the aggregate exercise price of the common warrants on the issuance date for the shares of common stock underlying the common warrants then outstanding shall remain unchanged. Any reduction to the exercise price of the common warrants and resulting increase in the shares of common stock underlying the common warrants will be subject to a floor price. The floor price will be equal to 30% of the most recent Nasdaq Official Closing Price of the shares of common stock preceding execution of the securities purchase agreement.

If all of the common warrants offered to investors