Company: HSDTW
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001104659-25-052494
Chunk: 67

Company: Solana Co
Filing Date: 2025-05-23
Form: S-1
Chunk 67
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 and officers and reimburses us for those losses for which we have lawfully indemnified the directors and officers. The policy contains various exclusions.

## Item 15.   Recent Sales of Unregistered Securities.
The following sets forth information regarding all unregistered securities sold by the Registrant in the three years preceding the date of this registration statement.

On January 21, 2025, we entered into warrant exercise inducement offer letters (the “Inducement Letters”) with certain holders (the “Holders”) of our then-existing Series A warrants and Series B warrants to purchase shares of the Company’s Class A common stock (the “Public Warrants”), pursuant to which the Holders agreed to exercise for cash their Public Warrants to purchase an aggregate of 331,407 shares of our common stock, in the aggregate, at a reduced exercise price of $11.265 per share, in exchange for our agreement to issue new Series C Warrants and Series D Warrants (the “Inducement Warrants”) on substantially the same terms as the Public Warrants except that such Inducement Warrants are not exercisable unless and until approved by the Company’s stockholders, to purchase up to 414,254 shares of common stock. We received aggregate gross proceeds of approximately $3.7 million from the exercise of the Public Warrants by the Holders.

On April 24, 2025, we entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors (the “Purchasers”) pursuant to which we sold, in a private placement, unsecured 20% original issue discount promissory notes with an aggregate principal amount of $1,560,000, and an aggregate of 88,010 shares of common stock, for aggregate gross proceeds of $1,300,000, before deducting placement agent fees and expenses.

Unless otherwise noted, the transactions described in Item 15 were exempt from registration under the Securities Act pursuant to Section 4(a)(2) of the Securities Act in that such sales did not involve a public offering, under Rule 701 promulgated under the Securities Act, in that they were offered and sold either pursuant to written compensatory plans or pursuant to a written contract relating to compensation, as provided by Rule 701, or under Rule 506 of Regulation D promulgated under the Securities Act.

## Item 16.   Exhibits and Financial Statement Schedules.
**(a)**

#### Exhibits.
The exhibits to the registration statement are listed