Company: HSDTW
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001104659-25-035130
Chunk: 4

Company: Solana Co
Filing Date: 2025-04-15
Form: DRS
Chunk 4
---
 expenses)             | ​ | ​ | ​                                       | $ |     | ​ | ​ | ​ | ​                                                   | $ |     | ​ | ​ | ​ | ​     | $ | ​ | ​ | ​ |

(1) The public offering price and underwriting discount corresponds to (i) a public offering price per share of common stock of $ ($ net of the underwriting discount) or $ per pre-funded warrant ($ net of the underwriting discount) and (ii) a public offering price per common warrant of $ ($ net of the underwriting discount). (2) See “ Underwriting ” for additional information regarding underwriting compensation. We have granted a 45-day option to the underwriters to purchase up to additional shares of common stock and/or common warrants to purchase up to shares of common stock, at the public offering price, less estimated underwriting discounts and commissions. The option may be used to purchase such shares of common stock and/or common warrants, or any combination thereof, as determined by the underwriters. We are a “smaller reporting company” as defined under U.S. federal securities laws and, as such, have elected to comply with reduced public company reporting requirements. See “Prospectus Summary — Implications of Being a Smaller Reporting Company.” This prospectus complies with the requirements that apply to an issuer that is a smaller reporting company. An investment in our securities involves a high degree of risk. Before buying any securities you should carefully read the discussion of the material risks of investing in our securities in “Risk Factors” beginning on page 9of this prospectus. Neither the U.S. Securities and Exchange Commission nor any other state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense. Sole Book-Running Manager Maxim Group LLC The date of this prospectus is , 2025

TABLE OF CONTENTS CONFIDENTIAL TREATMENT REQUESTED PURSUANT TO 17 C.F.R. SECTION 200.83

TABLE OF CONTENTS

| ​                                                                      | ​ | ​ | Page |   |    |   | ​ |
| ABOUT THIS PROSPECTUS                                                  | ​ | ​ | ​    | ​ |  1 | ​ | ​ |
| PROSPECTUS SUMMARY                                                     | ​ | ​ | ​    | ​ |  3 | ​ | ​ |
| THE OFFERING                                                           | ​ | ​ | ​    | ​ |  6 |