Solana Company (NASDAQ: HSDT) Announces Registered Direct Offering of Common Stock to Global Institutional Investor

Solana Company (NASDAQ: HSDT) announced a registered direct offering of 3,076,922 Class A common shares at $2.60 per share, led by Mirae Asset with participation from Hashkey Capital.

Rhea-AI Summary

Solana Company (NASDAQ: HSDT) announced a registered direct offering of 3,076,922 Class A common shares at $2.60 per share, led by Mirae Asset with participation from Hashkey Capital. Aggregate proceeds are expected to be approximately $8.0 million (net ~$7.9 million/b).The company also granted purchasers a put option allowing repurchase at a price that yields a 7.0% annual IRR upon specified future events. Net proceeds are intended for accumulating SOL, working capital, corporate purposes, business expansion, and strategic initiatives. A final prospectus supplement will be filed with the SEC.

Positive

• Registered direct offering raises approximately $8.0M
• Proceeds earmarked for accumulating SOL and business expansion
• Offering led by institutional investors Mirae Asset and Hashkey Capital

Negative

• Issuance of 3,076,922 shares causes shareholder dilution
• Put option creates potential repurchase obligation at a 7.0% IRR

Argus Apr 27 session

-1.85% close to close Open Argus

Details

News Market Reaction – HSDT

On Apr 27, the day this news came out, HSDT closed 1.85% below the previous close.

Data tracked by StockTitan Argus for the Apr 27 session.

Key Figures

Shares offered: 3,076,922 shares Purchase price: $2.60 per share IRR on put option: 7.0% per annum +2 more

Shares offered

3,076,922 shares

Class A common stock in registered direct offering

Purchase price

$2.60 per share

Offering price for Class A common stock

IRR on put option

7.0% per annum

Internal rate of return on repurchase right for purchasers

Gross proceeds

approximately $8 million

Aggregate proceeds expected from the offering

Net proceeds

approximately $7.9 million

Aggregate net proceeds expected from the offering

Historical Context

5 past events · Latest: Apr 09

5 events

1. Apr 09

   Executive appointment

   24h Move

   +0.0%

   New COO and Deputy CFO hired to lead next growth phase.

2. Mar 30

   Earnings results

   24h Move

   -7.0%

   Q4 and 2025 results with large losses despite strong staking revenue.

3. Mar 24

   Earnings date notice

   24h Move

   +7.5%

   Announcement of timing and webcast for upcoming earnings release.

4. Feb 23

   Infra buildout plan

   24h Move

   -7.4%

   Launch of Pacific Backbone low-latency Solana infrastructure roadmap.

5. Feb 13

   Product launch

   24h Move

   +14.5%

   Tri-party custody model enabling borrowing against natively staked SOL.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

registered direct offering, put option agreement, internal rate of return, prospectus supplement, +1 more

5 terms

registered direct offering financial

"The Class A common stock being offered in the registered direct offering described above..."

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

put option agreement financial

"In addition, the Company entered into a put option agreement with the purchasers..."

A put option agreement is a contract that gives its holder the right to sell a specified number of shares at an agreed price within a set period. Think of it like an insurance policy that guarantees you can offload stock at a known price if the market falls; for investors it provides downside protection but can also create obligations for the counterparty (often the company) to buy back shares, which can affect cash flows and ownership stakes.

internal rate of return financial

"...an amount that would result in an internal rate of return of 7.0% per annum."

A percentage that represents the annualized yield an investment would earn, taking into account the timing and amount of all cash inflows and outflows; mathematically it is the rate that makes the discounted sum of future cash flows equal the initial cost. Investors use it to compare different projects or deals the way they compare interest rates — a higher internal rate of return suggests a stronger potential payoff, but it does not by itself show risk, scale, or timing nuances.

prospectus supplement regulatory

"A final prospectus supplement and the accompanying base prospectus relating..."

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

base prospectus regulatory

"A final prospectus supplement and the accompanying base prospectus relating..."

A base prospectus is a detailed document that provides essential information about a financial offering, such as a bond or share issue. It acts like a comprehensive guide for investors, explaining what the investment involves, the risks involved, and how the process works. This helps investors make informed decisions before committing their money.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEWTOWN, Pa., April 27, 2026 (GLOBE NEWSWIRE) -- Solana Company (NASDAQ: HSDT) (“HSDT” or the “Company”), a publicly listed company that has expanded its business to include a digital asset treasury dedicated to acquiring and holding Solana tokens (“SOL”), today announced that it has entered into a definitive agreement providing for the purchase and sale of an aggregate of 3,076,922 shares of Class A common stock at a purchase price of $2.60 per share.  

In addition, the Company entered into a put option agreement with the purchasers, pursuant to which the Company grants the purchasers the right, upon the occurrence of specified future events, to require the Company to repurchase all or a portion of the shares of Class A common stock it purchased in the registered direct offering at a price per share equal to the purchase price plus an amount that would result in an internal rate of return of 7.0% per annum.

The offering was led by global institutional investor Mirae Asset with participation by Hashkey Capital. The aggregate proceeds to the Company from the offering are expected to be approximately $8 million. The aggregate net proceeds to the Company from the offering are expected to be approximately $7.9 million. The Company intends to use the net proceeds from the offering for accumulating SOL, working capital and general corporate purposes, business expansion and other strategic initiatives.

The Class A common stock being offered in the registered direct offering described above are being offered and sold by the Company in a registered direct offering pursuant to a “shelf” registration statement on Form S-3 (File No. 333-290429), as amended, that became effective on April 8, 2026. The offering of the securities in the registered direct offering is being made only by means of a base prospectus and prospectus supplement that forms a part of the effective registration statement. A final prospectus supplement and the accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus, when available, may also be obtained, when available, from the Company at 642 Newtown Yardley Road, Suite 100, Newtown, Pennsylvania, by phone at (215) 944-6100 or e-mail at ir@solanacompany.co.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Solana Company

Solana Company (NASDAQ: HSDT) is a listed digital asset treasury dedicated to acquiring SOL, created in partnership with Pantera and Summer Capital. Focused on maximizing SOL per share by leveraging capital markets opportunities and on-chain activity, Solana Company offers public market investors optimal exposure to Solana’s secular growth. https://www.solanacompany.co/

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. In some cases, you can identify forward-looking statements by terminology such as “may”, “will”, “should”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or “continue”, the negative of such terms or other comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Forward-looking statements may include, among others, statements relating to the consummation of the offering and the satisfaction of customary closing conditions related to the offering; and the expected gross proceeds and anticipated closing date of the offering and the use of proceeds therefrom.

These forward-looking statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties, and other factors-many of which are beyond the Company’s control-that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, capital requirements to achieve the Company’s business objectives; expected benefits and implementation of the Company’s digital asset treasury strategy, expected staking, yield and broader opportunities across the Solana ecosystem; the Company’s expected token treasury growth, the impact on the Company of global macroeconomic conditions including effects from supply chain constraints, including risks related to manufacturing delays, logistics challenges, labor shortages, disruptions in the banking system and financial markets; high levels of inflation and high interest rates on the Company’s ability to operate its business and access capital markets; the success of the Company’s business plan; the Company’s operating costs and use of cash; the Company’s ability to achieve significant revenues; and other risks and uncertainties described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in other subsequent filings with the Securities and Exchange Commission. These filings are available at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Media Contacts:
Solana Company
ir@solanacompany.co

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Solana Company (HSDT) announce on April 27, 2026?

They announced a registered direct offering of common stock to institutional investors. According to the company, 3,076,922 shares were priced at $2.60 per share with aggregate proceeds of about $8.0 million and an associated put option.

How many shares did HSDT offer and at what price in the registered direct offering?

HSDT offered 3,076,922 Class A common shares at $2.60 per share. According to the company, the gross proceeds are approximately $8.0 million and net proceeds about $7.9 million.

What is the put option included in HSDT's offering and what does it mean?

The put option permits purchasers to require repurchase under specified events at a price yielding a 7.0% annual IRR. According to the company, this creates a potential future repurchase obligation tied to stated triggers.

How does Solana Company (HSDT) plan to use the net proceeds from the offering?

The company intends to use net proceeds to accumulate SOL, support working capital, and pursue corporate expansion and strategic initiatives. According to the company, these are the primary uses stated for the roughly $7.9 million net proceeds.

Where can investors find the final prospectus supplement for HSDT's registered direct offering?

The final prospectus supplement will be filed with the SEC and available on sec.gov. According to the company, electronic copies may also be requested from the company by mail, phone, or email when available.