Company: HSDTW
Filing Date: 2025-03-26
Form Type: 424B5
Source: 0001104659-25-028242
Chunk: 27

Company: Solana Co
Filing Date: 2025-03-26
Form: 424B5
Chunk 27
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 and privileges of the holders of our Class A Common Stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock that we may designate in the future.

#### Warrants
As of March 31, 2023, we had warrants outstanding to purchase an aggregate of 36,593,924 shares of our Class A Common Stock with a weighted average exercise price of $1.00.

#### Preferred Stock
Our board of directors has the authority under our Certificate of Incorporation, without further action by our stockholders, to issue up to 10,000,000 shares of preferred stock in one or more series, to establish from time to time the number of shares to be included in each such series, to fix the rights, preferences and privileges of the shares of each wholly unissued series and any qualifications, limitations or

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restrictions thereon, and to increase or decrease the number of shares of any such series, but not below the number of shares of such series then outstanding.

Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common stock. The purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of us and may adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common stock until the board of directors determines the specific rights attached to that preferred stock.

#### Stock Options
As of March 31, 2023, we had options outstanding to purchase an aggregate of 11,122,299 shares of our Class A Common Stock with a weighted average exercise price of $1.70 per share. Many of these options are subject to vesting that generally occurs over a period of up to five years following the date of grant.

#### Restricted Stock Units
As of March 31, 2023, we had 2,016 unvested restricted stock units outstanding.

#### Anti-Takeover Provisions