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Solana Co (HSDT) reported that officer Tjandrasuwita Agustina Gani, who serves as Chief Financial Officer, Chief Operating Officer, Treasurer and Secretary, received a grant of stock options. The award covers 88,817 Stock Options (Right to Buy) shares of Class A common stock at an exercise price of $2.10 per share, with no cash paid at grant. The options vest in four equal annual installments of 25% each, beginning one year after the vesting commencement date of July 6, 2026, and will be fully vested on the four-year anniversary of that date, subject to continued service. Following this grant, the reporting person holds 88,817 stock options directly.
Solana Co (symbol HSDT) reports that Solana Rocket Holdings Limited and its controlling shareholder, CHUNG Wai Shing, together are deemed to beneficially own 6,376,746 shares of Class A Common Stock, equal to 9.99% of the class as of August 12, 2026, under a Beneficial Ownership Blocker.
The position consists of 3,004,154 shares of Common Stock, pre-funded warrants to purchase up to 215,966 shares, and cash stapled warrants to purchase up to 14,823,426 shares. Beneficial ownership is calculated using 60,458,703 shares outstanding plus 3,372,592 shares issuable upon partial warrant exercise, with all voting and dispositive power shared between the Reporting Persons.
Solana Company has transformed into a digital asset treasury focused on Solana (SOL), with results now dominated by crypto-mark-to-market effects. For the six months ended June 30, 2026, it reported a net loss of $130.1 million, compared with $13.7 million a year earlier, driven mainly by $86.8 million of unrealized losses and $32.4 million of realized losses on SOL-related positions and investments.
Total assets were $176.1 million, of which SOL and related exposures were central: direct SOL and Locked PIPE SOL fair value was $151.8 million (86.2% of assets), and total SOL exposure was 2,319,919 tokens valued at $170.6 million at a SOL price of $73.54. Digital assets receivable and a digital asset fund investment added further locked and staked SOL exposure. Staking revenue reached $6.1 million for the first half, with minimal cost of revenue.
The company generated a $3.1 million gain on the sale of its legacy PoNS medical device business, but also recorded $6.8 million of severance, contributing to $16.3 million in general and administrative expenses for the half. Operating cash outflow was $16.7 million; cash stood at $3.6 million and working capital at $26.6 million, including $21.0 million of readily saleable digital assets. Management states this liquidity should cover at least 12 months, though the balance sheet remains highly sensitive to SOL price and market liquidity.
Solana Company reported sharply higher revenue but substantially larger losses for the quarter ended June 30, 2026. Revenue rose to $2.5 million, almost all from staking on SOL holdings, compared with $43 thousand a year earlier. Gross profit was $2.4 million, for a gross margin of about 97%, versus a gross loss previously.
Operating costs rose significantly as the business shifted to a digital asset treasury and infrastructure model. General and administrative expenses were $11.1 million, and net operating expenses reached $35.1 million, driven by expansion initiatives and $6.8 million of severance tied to divesting the PoNS medical device business. Loss from operations widened to $32.7 million, and net loss was $30.3 million versus $9.8 million in the prior-year quarter.
Total assets were $176.1 million at June 30, 2026, including $3.6 million of cash and cash equivalents and significant digital asset holdings and exposure. During the quarter, the company completed a $7.9 million registered direct offering and repurchased about $2.3 million of stock, retiring 1.3 million shares.
Solana Co granted CEO and President Chee Choon Wee a stock option covering 923,000 shares of Class A Common Stock at an exercise price of $1.65 per share. The option vests 50% immediately and 50% in four equal quarterly installments through the first anniversary of the grant and expires on July 30, 2036.
Summer Wisdom Holdings Ltd, a ten percent owner of Solana Co, reported an internal restructuring of its indirect holdings of Class A Common Stock. On May 11, 2026, an affiliate, Fusion Summer Limited, made a pro‑rata distribution-in-kind of 1,453,277 shares of Class A Common Stock to one of its members for no consideration. Following this transaction, Summer Wisdom is reported as beneficially owning 5,377,125 Class A Common shares indirectly through Fusion Summer.
Summer Wisdom Holdings Ltd, a more than ten percent owner of Solana Co, reports its initial beneficial ownership of the company’s securities. It indirectly holds 6,830,402 shares of Class A Common Stock through Fusion Summer Limited. It also holds Strategic Advisory Warrants directly, exercisable at $0.001 per share for 2,218,236 underlying Class A shares, subject to a 9.99% Beneficial Ownership Blocker, so these warrants are not currently exercisable. In addition, it indirectly holds Cash Stapled Warrants tied to 6,830,402 underlying Class A shares at an exercise price of $10.134 per share, expiring in 2028.
Solana Co director Jiang Cosmo Yi exercised warrants to acquire 1,005,040 shares of common stock. The warrants carried an exercise price of $0.001 per share and had become fully vested and immediately exercisable as of May 3, 2026, following an acceleration elected by Yi.
In connection with this cashless exercise, 610 shares were withheld by the company at $1.65 per share to satisfy obligations, so this portion is a tax-withholding disposition rather than an open-market sale. After these transactions, Yi directly holds 1,004,430 shares of Solana Co common stock.
Solana Co director Jiang Cosmo Yi received a warrant covering 1,005,040 shares of common stock. The warrant has an exercise price of $0.001 per share and expires on September 18, 2030. It vests 25% on March 18, 2026, with the remaining 75% vesting in equal monthly installments over 36 months, subject to continued service.
Solana Company amended and restated its at-the-market stock sales agreement with Clear Street LLC and Maxim Group LLC, increasing the maximum aggregate offering price of Class A common shares in the program from $92.8 million to $250 million. The company uses a shelf registration on Form S-3 and a new prospectus supplement to support these sales. As of May 29, 2026, it has previously sold shares for aggregate gross proceeds of $24,657,697.51 under the prior agreement and prospectus supplement, which will no longer be used. Sales, if any, will be made from time to time at the company’s discretion, with the agents earning up to 3.00% of gross proceeds and receiving reimbursement of certain legal expenses.