Company: HSDTW
Filing Date: 2025-04-22
Form Type: PRE 14A
Source: 0001104659-25-037535
Chunk: 24

Company: Solana Co
Filing Date: 2025-04-22
Form: PRE 14A
Chunk 24
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-PUBLIC TRANSACTIONS IN ACCORDANCE WITH NASDAQ LISTING RULE 5635(D)**</div>

### Background and Purpose of the Potential Financing Issuances
The Company seeks stockholder approval of the potential issuance of shares of our Common Stock, including shares of Common Stock issuable upon conversion or exercise of convertible preferred stock, warrants or other rights to purchase or acquire Common Stock, and convertible notes or other securities convertible into, or exercisable or exchangeable for, our Common Stock in one or more potential non-public transactions, including transactions involving the exchange of trade debt for any such securities, in an aggregate offering amount of up to $18,000,000. The Common Stock issuable pursuant to such non-public transactions may be issued at a discounted price not to exceed 10% below the lower of: (i) the closing price of our Common Stock (as reflected on Nasdaq.com) immediately preceding the signing of the binding agreement; or (ii) the average closing price of our Common Stock (as reflected on Nasdaq.com) for the five trading days immediately preceding the signing of the binding agreement (the “

#### Minimum Price
”), provided, however, that the securities issued may contain adjustments to the conversion or exercise price of such security and/or the number of securities issuable upon conversion or exercise of such security based on time elapsed following closing or following dilutive issuances, with a floor price that is no less than 20% of the Minimum Price or such other price as may be accepted in accordance with Nasdaq Listing Rules (the “

#### Floor Price
”). The maximum number of shares of our Common Stock that may be issued if this proposal is approved will be the maximum number of authorized and unissued and unreserved shares of Common Stock of the Company at the time of the offering, taking into account the proposed reverse split of the Company’s Common Stock and the proposed increase in the number of authorized shares of the Company’s Common Stock as described in Proposals 1 and 2 above, respectively.

The above described potential non-public offering transactions must be consummated within three months from the date of stockholder approval.

The purpose of this proposal is to provide the Company with a short-term ability to raise capital needed for operations, or issue securities in connection with the settlement of outstanding liabilities or other indebtedness, without the need to conduct a public offering, which would involve significant delay and expense, if feasible at all. The Company would not enter into any transaction of the type described in this proposal if such transaction