secwatch.observer — SEC 8-K summary
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Issuer:     Solana Co (HSDT)
CIK:        0001610853
Form:       8-K
Filed at:   2026-09-30T21:21:51+00:00
Accession:  0001610853-26-000008
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1610853/000161085326000008/0001610853-26-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1610853/000161085326000008/hsdt-20260930.htm
  HTML page:      https://secwatch.observer/filing/0001610853-26-000008

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