Company: HSDTW
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001104659-25-066159
Chunk: 1

Company: Solana Co
Filing Date: 2025-07-07
Form: 424B5
Chunk 1
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 requirements that apply to an issuer that is a smaller reporting company.

Investing in our common stock involves significant risks. See “Risk Factors” beginning on page S-5of this prospectus supplement and in the documents incorporated by reference in the prospectus supplement for a discussion of the factors you should carefully consider before deciding to purchase our common stock.

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 supplement or the Prior Prospectus Supplement. Any representation to the contrary is a criminal offense.**

#### Roth Capital Partners
<div align='center'>The date of this prospectus supplement is July 7, 2025.</div>

TABLE OF CONTENTS

TABLE OF CONTENTS Prospectus Supplement

| ​                                                 | ​ | ​ | Page |   |      |   | ​ |
| ABOUT THIS PROSPECTUS SUPPLEMENT                  | ​ | ​ | ​    | ​ | S-ii | ​ | ​ |
| PROSPECTUS SUPPLEMENT SUMMARY                     | ​ | ​ | ​    | ​ | S-1  | ​ | ​ |
| THE OFFERING                                      | ​ | ​ | ​    | ​ | S-4  | ​ | ​ |
| RISK FACTORS                                      | ​ | ​ | ​    | ​ | S-5  | ​ | ​ |
| SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS | ​ | ​ | ​    | ​ | S-8  | ​ | ​ |
| USE OF PROCEEDS                                   | ​ | ​ | ​    | ​ | S-9  | ​ | ​ |
| PLAN OF DISTRIBUTION                              | ​ | ​ | ​    | ​ | S-10 | ​ | ​ |
| LEGAL MATTERS                                     | ​ | ​ | ​    | ​ | S-12 | ​ | ​ |
| EXPERTS                                           | ​ | ​ | ​    | ​ | S-12 | ​ | ​ |
| WHERE YOU CAN FIND MORE INFORMATION               | ​ | ​ | ​    | ​ | S-12 | ​ | ​ |
| INCORPORATION BY REFERENCE                        | ​ | ​ | ​    | ​ | S-13 | ​ | ​ |

Prospectus

| ​                                                 | ​ | ​ | Page |   |    |   | ​ |
| ABOUT THIS PROSPECTUS                             | ​ | ​ | ​    | ​ | ii | ​ | ​ |
| SUMMARY