8-K
filed September 18, 2025, 7:59 PM ET
ticker HSDT
CIK 0001610853
other material
confidence high
sentiment positive
materiality 1.00
HSDT closes >$500M private placement to launch SOL treasury; appoints Joseph Chee as Executive Chairman
Solana Co
- Raised $508.7M gross proceeds; potential total >$1.25B if all stapled warrants exercised at $10.134.
- Net proceeds to acquire SOL as primary treasury reserve asset; plans to scale holdings over 12-24 months.
- Appointed Joseph Chee (Founder/Chairman of Summer Capital, former UBS IB head) as Executive Chairman and Director.
- Entered Strategic Advisor Agreements with Pantera Capital and Summer Capital; issued advisor warrants at $0.001 exercise price.
- Approved increase in authorized common shares to 800M; filed Certificate of Amendment.
Key facts
Extracted from this filing and checked against the source text.
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Solana Co issued stapled warrants to purchase 10,994,199 shares of Common Stock of warrant to accredited investors for $10.134 per underlying Share.
- Security
- warrant
- Shares
- stapled warrants to purchase 10,994,199 shares of Common Stock
- Purchaser
- accredited investors
- Consideration
- $10.134 per underlying Share
Exact text from the filing
(ii) stapled warrants (the “Cryptocurrency Stapled Warrants” and together with the Cryptocurrency Pre-Funded Warrants, the “Cryptocurrency Warrants”) to purchase 10,994,199 shares of Common Stock at an exercise price of $10.134 per underlying Share of Common
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Solana Co issued 37,825,277 shares of common stock to accredited investors for $6.881 per share.
- Security
- common stock
- Shares
- 37,825,277 shares
- Purchaser
- accredited investors
- Consideration
- $6.881 per share
Exact text from the filing
the Company, in a private placement (the “Cash Offering”), agreed to issue and sell to the Cash Purchasers an aggregate of (i) 37,825,277 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 share
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Solana Co issued pre-funded warrants to purchase 25,121,713 shares of Common Stock of warrant to accredited investors for $6.880 per underlying share.
- Security
- warrant
- Shares
- pre-funded warrants to purchase 25,121,713 shares of Common Stock
- Purchaser
- accredited investors
- Consideration
- $6.880 per underlying share
Exact text from the filing
(ii) pre-funded warrants (the “Cash Pre-Funded Warrants”) to purchase 25,121,713 shares of Common Stock at an offering price of $6.880 per underlying share of Common Stock
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Solana Co issued stapled warrants to purchase 62,946,990 shares of Common Stock of warrant to accredited investors for $10.134 per underlying share.
- Security
- warrant
- Shares
- stapled warrants to purchase 62,946,990 shares of Common Stock
- Purchaser
- accredited investors
- Consideration
- $10.134 per underlying share
Exact text from the filing
(iii) stapled warrants (the “Cash Stapled Warrants”) to purchase 62,946,990 shares of Common Stock at an exercise price of $10.134 per underlying share of Common Stock
View on SEC.gov
Equity Issuances
SEC 8-K Item 3.02/3.03
confidence 0.9
Solana Co issued pre-funded warrants to purchase 10,994,199 shares of Common Stock of warrant to accredited investors for $6.880.
- Security
- warrant
- Shares
- pre-funded warrants to purchase 10,994,199 shares of Common Stock
- Purchaser
- accredited investors
- Consideration
- $6.880
Exact text from the filing
(i) pre-funded warrants (the “Cryptocurrency Pre-Funded Warrants”) to purchase 10,994,199 shares of Common Stock at an offering price of $6.880
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Solana Co: Increased authorized common stock to 800,000,000 shares via Certificate of Amendment (effective 2025-09-15).
- Change
- charter amendment
- Effective
- 2025-09-15
Exact text from the filing
On September 15, 2025, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its Certificate of Incorporation (the “Certificate of Amendment”) to effect the Share Increase, which became effective as of September 15, 2025.
View on SEC.gov
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