Company: HSDTW
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001104659-25-035130
Chunk: 3

Company: Solana Co
Filing Date: 2025-04-15
Form: DRS
Chunk 3
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 issuance.

The common stock (or pre-funded warrants) and the common warrants will be sold in combination, with each share of common stock (or pre-funded warrant to purchase one share of common stock) accompanied by a common warrant to purchase one share of our common stock. This prospectus also relates to the offering of common stock issuable upon exercise of the pre-funded warrants and common warrants. We collectively refer to the shares of common stock, pre-funded warrants and common warrants offered hereby, including the shares of common stock underlying the pre-funded warrants and common warrants, as the “securities.”

Our common stock is listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “HSDT.” On April 14, 2025, the last reported sale price of our common stock on Nasdaq was $0.30 per share. There is no established trading market for the pre-funded warrants or common warrants, and we do not expect a market to develop. We do not intend to apply for a listing of the pre-funded warrants or common warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the pre-funded warrants or common warrants will be limited.

TABLE OF CONTENTS

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

| ​                                            | ​ | ​ | Per Share andAccompanyingCommon Warrant |   |     |   | ​ | ​ | Per Pre-FundedWarrant andAccompanyingCommon Warrant |   |     |   | ​ | ​ | Total |   |   |   | ​ |
|:---------------------------------------------|:--|:--|:----------------------------------------|:--|:----|:--|:--|:--|:----------------------------------------------------|:--|:----|:--|:--|:--|:------|:--|:--|:--|:--|
| Public offering price(1)                     | ​ | ​ | ​                                       | $ |     | ​ | ​ | ​ | ​                                                   | $ |     | ​ | ​ | ​ | ​     | $ |   | ​ | ​ |
| Underwriting discounts and commissions(1)(2) | ​ | ​ | ​                                       | $ |     | ​ | ​ | ​ | ​                                                   | $ |     | ​ | ​ | ​ | ​     | $ |   | ​ | ​ |
| Proceeds to us (before