Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 16

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 16
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 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”); and the number of shares issuable upon exercise will be increased such that the aggregate exercise price of the common warrant on the issuance date for the shares of common stock underlying the common

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warrants then outstanding shall remain unchanged. Subsequently, at 4:01 p.m. Eastern time on the 10 th trading day after the date of issuance (the “Second Reset Date”), the exercise terms of the common warrants will be reset to a price equal 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 trading day after the date of issuance and ending on the Second Reset Date, and (b) 30% of the Latest Nasdaq Closing Price; and 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. If all of the common warrants offered to investors in this offering are exercised on a zero cash basis at the floor price of the common warrants (assuming a Nasdaq Closing Price of $4.35), an aggregate of 51,274,125 shares would be issued upon such zero cash exercise without payment to us of any additional cash.

This offering also relates to the shares of common stock issuable upon the exercise of the common warrants sold in this offering. For more information regarding the common warrants, you should carefully read the section entitled “Description of Securities We Are Offering” on page 18of this prospectus.

#### Common Stock Outstanding after this Offering
3,976,291 (assuming the exercise of all pre-funded warrants and none of the common warrants or Placement Agent Warrants included in this offering).

#### Placement Agent Warrants
We have agreed to issue to the placement agent warrants to purchase up to 172,413 shares of common stock as a portion of the compensation payable to the Placement Agent in connection with this offering (the “Placement Agent Warrants”). The Placement Agent Warrants will be immediately exercisable upon issuance at an exercise price equal to $9.79 per share of common stock