Company: HSDTW
Filing Date: 2025-09-22
Form Type: S-3ASR
Source: 0001104659-25-091789
Chunk: 2

Company: Solana Co
Filing Date: 2025-09-22
Form: S-3ASR
Chunk 2
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, dealers or agents are involved in the sale of any of the securities, their names and any applicable purchase price, fee, commission or discount arrangement between or among them will be set forth, or will be calculable from the information set forth, in the applicable prospectus supplement. See the sections of this prospectus entitled “About this Prospectus” and “Plan of Distribution” for more information. No securities may be sold without delivery of this prospectus and the applicable prospectus supplement describing the method and terms of the offering of such securities.

INVESTING IN OUR SECURITIES INVOLVES RISKS. SEE THE “RISK FACTORS” ON PAGE 7OF THIS PROSPECTUS, INCLUDING THE RISK FACTORS IN THE DOCUMENTS INCORPORATED BY REFERENCE IN THIS PROSPECTUS, AND ANY SIMILAR SECTION CONTAINED IN THE APPLICABLE PROSPECTUS SUPPLEMENT CONCERNING FACTORS YOU SHOULD CONSIDER BEFORE INVESTING IN OUR SECURITIES.

Our common stock is listed on the Nasdaq Capital Market (the “Nasdaq”) under the symbol “HSDT.” On September 18, 2025, the last reported sale price of our common stock on the Nasdaq was $23.17 per share.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.**

<div align='center'>The date of this prospectus is September 19, 2025.</div>

TABLE OF CONTENTS

TABLE OF CONTENTS

| ​ | ​                                                               | ​ | ​ | ​ | ​ |  ​ | ​ | ​ |
| ​ | ABOUT THIS PROSPECTUS                                           | ​ | ​ | ​ | ​ |  1 | ​ | ​ |
| ​ | CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS            | ​ | ​ | ​ | ​ |  2 | ​ | ​ |
| ​ | WHERE YOU CAN FIND MORE INFORMATION; INCORPORATION BY REFERENCE | ​ | ​ | ​ | ​ |  3 | ​ | ​ |
| ​ | THE COMPANY                                                     | ​ | ​ | ​ | ​ |  5 | ​ | ​ |
| ​ | RISK FACTORS                                                    | ​ | ​ | ​ | ​ |  7 | ​ | ​ |
| ​ | USE OF PROCEEDS                                                 | ​