---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-089774"
form_type: "8-K"
ticker: "HSDT"
cik: "0001610853"
company_name: "Solana Co"
filed_at: "2025-09-15T23:59:59+00:00"
generated_at: "2026-05-17T06:37:42.507898+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Helius raises $500M+ in PIPE to fund SOL treasury; Joseph Chee named Executive Chairman

## Summary
- Offering priced at $6.881/share + stapled warrants at $10.134; gross proceeds ~$500M cash, up to $1.25B total.
- Proceeds to acquire SOL as primary treasury reserve; Company will use staking and DeFi to generate yield.
- Incoming Executive Chairman Joseph Chee (ex-UBS Asia IB head); Board Observer Cosmo Jiang (Pantera) and advisor Dan Morehead.
- Pantera Capital engaged as trading advisor for digital assets under a 10-year agreement with tiered management fees.
- Closing expected Sept 18, 2025; resale registration statement to be filed within 30 days.

## SEC filing metadata
- accession: 0001104659-25-089774
- form_type: 8-K
- ticker: HSDT
- cik: 0001610853
- company_name: Solana Co
- filed_at: 2025-09-15T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1610853/000110465925089774/0001104659-25-089774-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1610853/000110465925089774/tm2526070d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-089774
- JSON: https://secwatch.observer/filing/0001104659-25-089774.json
- Plain text: https://secwatch.observer/filing/0001104659-25-089774.txt

## Key facts
- Equity Issuances
  Solana Co issued pre-funded warrants to purchase shares of Common Stock of warrant to accredited investors for $6.881 less $0.001.
  - Security: warrant
  - Shares: pre-funded warrants to purchase shares of Common Stock
  - Purchaser: accredited investors
  - Consideration: $6.881 less $0.001
  source text: pre-funded warrants (the “ Cash Pre-Funded Warrants ”) to purchase shares of the Common Stock (the “ Cash Pre-Funded Warrant Shares ”) at an offering price of the Per Share Cash Purchase Price less $0.001 per Cash Pre-Funded Warrant
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610853/000110465925089774/0001104659-25-089774-index.htm
- Equity Issuances
  Solana Co issued pre-funded warrants to purchase shares of Common Stock of warrant to accredited investors for $6.881 less $0.001.
  - Security: warrant
  - Shares: pre-funded warrants to purchase shares of Common Stock
  - Purchaser: accredited investors
  - Consideration: $6.881 less $0.001
  source text: in a private placement offering (the “ Cash Offering ”) an aggregate offering of (i) either shares (the “ Cash Shares ”) of Class A common stock of the Company, par value $0.001 per share (the “ Common Stock ”) at an offering price of $6.881 per Cash Share (the “ Per Share Cash Purchase Price ”); and/or pre-funded warrants (the “ Cash Pre-Funded Warrants
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610853/000110465925089774/0001104659-25-089774-index.htm
- Equity Issuances
  Solana Co issued shares of Class A common stock of common stock to accredited investors for $6.881 per Cash Share.
  - Security: common stock
  - Shares: shares of Class A common stock
  - Purchaser: accredited investors
  - Consideration: $6.881 per Cash Share
  source text: the Company agreed to sell and issue to the Cash Purchasers in a private placement offering (the “ Cash Offering ”) an aggregate offering of (i) either shares (the “ Cash Shares ”) of Class A common stock of the Company, par value $0.001 per share (the “ Common Stock ”) at an offering price of $6.881 per Cash Share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610853/000110465925089774/0001104659-25-089774-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.