Company: HSDTW
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001558370-25-003622
Chunk: 51

Company: Solana Co
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 51
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Subject to applicable laws, an Inducement Warrant may be transferred at the option of the holder upon surrender of the Inducement Warrant to us together with the appropriate instruments of transfer.

Fractional Shares

No fractional shares of common stock will be issued upon the exercise of the Inducement Warrants. Rather, the number of shares of common stock to be issued will, at our election, either be rounded up to the next whole share or we will pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the exercise price.

Trading Market

There is no established trading market for the Inducement Warrants, and we do not expect an active trading market to develop. We do not intend to apply to list the Inducement Warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the Inducement Warrants will be extremely limited.

Except as otherwise provided in the Inducement Warrants or by virtue of the holder’s ownership of shares of our common stock, such holder of Inducement Warrants does not have the rights or privileges of a holder of our common stock, including any voting rights or dividends, until such holder exercises such holder’s Inducement Warrants.

Waivers and Amendments

The Inducement Warrant may be modified or amended or the provisions of the Inducement Warrant waived with our and the holder’s written consent. The Company agreed that for a year following the date of the Inducement Letters, that none of the terms offered to any holders of the Company’s common stock purchase warrants with respect to any other agreement related to the exercise of such warrants

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(or any amendment, modification or waiver thereof), is or will be more favorable to such holder than those of the Inducement Warrant Holders.

#### Background and Reasons for the Inducement Offer
In approving the Inducement Offer, the Board of Directors considered the pros and cons of the Inducement Offer versus other alternatives for raising capital, and the immediate working capital needs of the Company, and determined that the Inducement Offer was in the best interests of the Company and its stockholders.

#### Interests of Certain Parties
No person who has been a Director or executive officer of the Company at any time since January 1, 2024, or any associate thereof, has or had a substantial interest in the Inducement Offer.

**Nasdaq Marketplace Requirements and the Necessity