Company: HSDTW
Filing Date: 2025-09-15
Form Type: 8-K
Source: 0001104659-25-089774
Chunk: 2

Company: Solana Co
Filing Date: 2025-09-15
Form: 8-K
Item: Item 1.01
Chunk 2
---
 not be exercisable
for Common Stock until such Shareholder Approval is received. Pursuant to the Cryptocurrency Securities Purchase Agreement, the Company
will hold a special meeting of stockholders to obtain Stockholder Approval as soon as practicable after the closing date of the Offerings.

Each of the Cryptocurrency Pre-Funded Warrants
is exercisable for one share of Common Stock at the exercise price of $0.001 per Cryptocurrency Pre-Funded Warrant Share, immediately
exercisable following Stockholder Approval (the “ Effective Date”), and may be exercised at any time on or after the
Effective Date until all of the Cryptocurrency Pre-Funded Warrants issued in the Offerings are exercised in full. Each Cryptocurrency
Purchaser’s ability to exercise its Cryptocurrency Pre-Funded Warrants in exchange for shares of Common Stock is subject to certain
beneficial ownership limitations set forth therein. Each of the Cryptocurrency Stapled Warrants is exercisable for one share of Common
Stock at the exercise price of $10.134 per Cryptocurrency Stapled Warrant Share, immediately exercisable on or after the Effective Date,
and may be exercised at any time on or after the Effective Date until the earlier of (i) 36 months after the closing of the Cryptocurrency
Offering or (ii) all of the Cryptocurrency Stapled Warrants issued in the Cryptocurrency Offering are exercised in full. If the daily
volume-weighted average price of the Common Stock is above 200% of the share offering price during the Measurement Period and for each
of the last five (5) consecutive trading days during the Measurement Period, and subject to election and notice by the Company, the
Company can require the Cryptocurrency Stapled Warrants be exercised.

The Common Stock, the Pre-Funded Warrants, the
Pre-Funded Warrant Shares, the Stapled Warrants, and the Stapled Warrant Shares are being offered in reliance upon the exemption from
the registration requirement of the Securities Act of 1933, as amended (the “ Securities Act”), pursuant to Section 4(a)(2) thereof
and/or Rule 506(b) of Regulation D promulgated thereunder, and applicable state securities laws. The issuance of the Common
Stock, the Pre-Funded Warrants, the Pre-Funded Warrant Shares, the Stapled Warrants, and the Stapled Warrant Shares have not been registered
under the Securities Act and such securities may not be offered or sold in the United