Company: HSDTW
Filing Date: 2025-09-15
Form Type: 424B5
Source: 0001104659-25-089776
Chunk: 39

Company: Solana Co
Filing Date: 2025-09-15
Form: 424B5
Chunk 39
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 OF DEBT SECURITIES                    | ​ | ​ | ​ | ​ | 11 | ​ | ​ |
| ​ | DESCRIPTION OF WARRANTS                           | ​ | ​ | ​ | ​ | 18 | ​ | ​ |
| ​ | LEGAL OWNERSHIP OF SECURITIES                     | ​ | ​ | ​ | ​ | 20 | ​ | ​ |
| ​ | PLAN OF DISTRIBUTION                              | ​ | ​ | ​ | ​ | 23 | ​ | ​ |
| ​ | LEGAL MATTERS                                     | ​ | ​ | ​ | ​ | 25 | ​ | ​ |
| ​ | EXPERTS                                           | ​ | ​ | ​ | ​ | 25 | ​ | ​ |
| ​ | WHERE YOU CAN FIND MORE INFORMATION               | ​ | ​ | ​ | ​ | 25 | ​ | ​ |
| ​ | INCORPORATION OF CERTAIN INFORMATION BY REFERENCE | ​ | ​ | ​ | ​ | 25 | ​ | ​ |

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TABLE OF CONTENTS

### ABOUT THIS PROSPECTUS
This prospectus is a part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission, or the SEC, utilizing a “shelf” registration process. Under this shelf registration statement, we may offer and sell, either individually or in any combination, the securities described in this prospectus in one or more offerings from time to time up to a total aggregate offering price of $100,000,000. This prospectus provides you with a general description of the securities we may offer.

Each time we offer securities under this prospectus, we will provide a prospectus supplement that will contain specific information about the terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update or change information contained in this prospectus or in any documents that we have incorporated by reference into this prospectus. You should carefully read this prospectus, any applicable prospectus supplement and any related free writing prospectus, together with the information incorporated herein by reference as described under the heading “Incorporation of Certain Information by Reference,” before investing in any of the securities offered.

THIS PROSPECTUS MAY NOT BE USED TO CONSUMMATE A SALE OF SECURITIES UNLESS IT IS ACCOMPANIED BY A PROSPECTUS