---
schema_version: "secwatch.filing_event.v1"
accession: "0001610853-26-000008"
form_type: "8-K"
ticker: "HSDT"
cik: "0001610853"
company_name: "Solana Co"
filed_at: "2026-09-30T21:21:51+00:00"
generated_at: "2026-10-12T14:11:04.293295+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Solana Company prices $15M registered direct offering at $3.433/share, a 5% premium to NAV

## Summary
- Sold 4,369,356 Class A shares at $3.433 each (5% premium to NAV per share) plus warrants for 4,369,356 shares at $3.776, a 10% premium to NAV.
- Gross proceeds ~$15M; net ~$14.3M after Clear Street's 4.0% placement agent fee; closing expected on or about October 1, 2026.
- Warrants exercisable on issuance and expiring 5.5 years later, with a 4.99% beneficial-ownership blocker adjustable to 9.99% on 61 days' notice.
- As of September 24, 2026 the company held 2.3 million SOL plus $2.3M in cash/stablecoins, a total NAV of $278M at a SOL price of $119.
- Proceeds earmarked to grow Solana per share, including stock buybacks under its authorized program and opportunistic SOL purchases, plus working capital and expansion.

## SEC filing metadata
- accession: 0001610853-26-000008
- form_type: 8-K
- ticker: HSDT
- cik: 0001610853
- company_name: Solana Co
- filed_at: 2026-09-30T21:21:51+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1610853/000161085326000008/0001610853-26-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1610853/000161085326000008/hsdt-20260930.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001610853-26-000008
- JSON: https://secwatch.observer/filing/0001610853-26-000008.json
- Plain text: https://secwatch.observer/filing/0001610853-26-000008.txt

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