Company: OSOL
Filing Date: 2025-10-22
Form Type: S-1
Source: 0001493152-25-018952
Chunk: 130

Company: Osprey Solana Trust
Filing Date: 2025-10-22
Form: S-1
Chunk 130
---
 the U.S. dollars required for this purchase. The Authorized Participant is liable to the Trust for and shall bear all slippage costs as well as all other costs, expenses, liabilities, and losses, suffered or incurred by the Trust in connection with the events described in the foregoing sentence, including, without limitation, the dollar cost of the difference between the SOL price utilized in calculating NAV per Share on trade date and the price at which the Trust acquires the SOL to the extent the price realized in buying the SOL is higher than the SOL price utilized in the NAV, if applicable. To the extent the price realized in buying the SOL is lower than the price utilized in the NAV, the Authorized Participant shall get to keep the dollar impact of any such difference.

Issuance of Baskets – Cash Creations

In connection with a cash creation, the Authorized Participant will be required to submit the purchase order by an early order cutoff time (the “Cash Order Cutoff Time”). The Cash Order Cutoff Time is 6:00 p.m. ET on the Business Day prior to trade date. The Authorized Participant must submit a purchase order to [●], indicating the number of Baskets it intends to acquire.

In connection with a cash creation, the date [●] receives that order will determine the estimated cash amount (the “Basket Amount”) the Authorized Participant needs to deposit and the Basket SOL Amount the Trust needs to purchase from the Liquidity Provider or through the Prime Execution Agent. The final cash amounts will be determined after the NAV of the Trust is struck and the Trust’s SOL transactions have settled. However, orders received by [●] after the Cash Order Cutoff Time will not be accepted and should be resubmitted on the following Business Day. Fractions of a SOL smaller than one-hundred-millionth of one SOL (i.e., carried to the eighth decimal place) are disregarded for purposes of the computation of the Basket SOL Amount.

If the Trust accepts the cash purchase order, [●] will transmit to the Authorized Participant, via electronic mail message or other electronic communication, no later than 8:00 p.m. ET on the date such purchase order is received, or deemed received, a copy of the purchase order endorsed “Accepted” by the Trust and indicating the Basket Amount that the Authorized Participant must deliver to the Custodians or Prime Execution Agent in exchange for each Basket. Prior to the Trust’s acceptance as specified above, a purchase order will only represent the Authorized Participant’s unilateral offer to deposit cash in exchange for