HSDT holders approve warrant share issuances and 4M-plan increase
Rhea-AI Filing Summary
Solana Company (HSDT) reported the results of its October 30, 2025 special meeting. Stockholders elected Cosmo Jiang to the board and approved share issuances tied to previously issued warrants under Nasdaq Listing Rule 5635(a). They also increased the share pool under the 2022 Equity Incentive Plan by 4,000,000 shares and authorized potential adjournments.
- Quorum: 21,742,341 shares represented; 40,299,220 shares outstanding and entitled to vote as of September 26, 2025.
- Director: For 21,737,666; Withheld 4,675.
- Strategic Advisor Warrants (Pantera Capital Management LP; Summer Wisdom Holdings Limited): For 21,577,950; Against 152,144; Abstain 12,247.
- Cryptocurrency Pre‑Funded & Stapled Warrants (SOL consideration): For 20,135,405; Against 151,931; Abstain 1,455,005.
- 2022 Equity Plan increase (4,000,000 shares): For 21,420,874; Against 319,816; Abstain 1,651.
- Adjournment authority: For 21,734,015; Against 7,893; Abstain 433.
Positive
- None.
Negative
- None.
Insights
Routine approvals enabling prior warrant exercises and larger equity plan.
Stockholders approved issuances upon exercise of previously issued Strategic Advisor Warrants and Cryptocurrency Pre‑Funded/Stapled Warrants, satisfying Nasdaq Listing Rule 5635(a). Such votes are typically procedural to permit potential share issuance under prior transactions.
The 2022 Equity Incentive Plan reserve rose by
Quorum was achieved (21,742,341 represented). The director nominee passed comfortably. Subsequent activity will depend on holder decisions and company grant practices disclosed in future filings.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.07Submission of Matters to a Vote of Security Holders.
At the special meeting of stockholders of Solana Company (formerly known as Helius Medical Technologies, Inc.) (the “Company”) held on October 30, 2025 (the “Special Meeting”), the Company’s stockholders: (i) elected one new director to the Company’s Board of Directors; (ii) approved, in accordance with Nasdaq Listing Rule 5635(a), the issuance of shares of the Company’s Class A common stock, par value $0.001 per share (the “Common Stock”) upon the exercise of the Strategic Advisor Warrants issued to Pantera Capital Management LP and Summer Wisdom Holdings Limited; (iii) approved, in accordance with Nasdaq Listing Rule 5635(a), the issuance of shares of the Common Stock upon the exercise of the Cryptocurrency Pre-Funded Warrants and Cryptocurrency Stapled Warrants issued in connection with our acceptance of Solana (SOL) cryptocurrency as consideration in our private placement offering; (iv) approved an amendment to the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan to increase the number of shares of Common Stock available for issuance thereunder by 4,000,000 shares; and (v) approved the authorization of one or more adjournments to the Special Meeting to solicit additional proxies in the event there were insufficient votes to approve the foregoing proposals. The numbers reported below are based on 40,299,220 shares of Common Stock outstanding and entitled to vote as of September 26, 2025, the record date of the Special Meeting, and 21,742,341 shares of Common Stock were represented in person or by proxy at the Special Meeting, which number constituted a quorum.
Proposal 1: Election of the sole nominee, Cosmo Jiang, to the Company’s Board of Directors:
Votes For | Votes Withheld | Broker Non-Votes | |||
21,737,666 | 4,675 | 0 |
Proposal 2: Approval of, in accordance with Nasdaq Listing Rule 5635(a), the issuance of shares of the Company’s Common Stock upon the exercise of the Strategic Advisor Warrants issued to Pantera Capital Management LP and Summer Wisdom Holdings Limited:
Votes For |
| Votes Against |
| Abstain |
| Broker Non-Votes |
21,577,950 | 152,144 | 12,247 | 0 |
Proposal 3: Approval of, in accordance with Nasdaq Listing Rule 5635(a), the issuance of shares of the Company’s Common Stock upon the exercise of the Cryptocurrency Pre-Funded Warrants and Cryptocurrency Stapled Warrants issued in connection with our acceptance of Solana (SOL) cryptocurrency as consideration in our private placement offering:
Votes For |
| Votes Against |
| Abstain |
| Broker Non-Votes |
20,135,405 | 151,931 | 1,455,005 | 0 |
Proposal 4: Approval of an amendment to the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan to increase the number of shares of Common Stock available for issuance thereunder by 4,000,000 shares:
Votes For |
| Votes Against |
| Abstain |
| Broker Non-Votes |
21,420,874 | 319,816 | 1,651 | 0 |
Proposal 5: Approval to authorize one or more adjournments of the Special Meeting to solicit additional proxies in the event there are insufficient votes to approve the foregoing proposals described above:
Votes For |
| Votes Against |
| Abstain |
| Broker Non-Votes |
21,734,015 | 7,893 | 433 | 0 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SOLANA COMPANY. | ||
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Dated: October 31, 2025 |
| By: | /s/ Jeffrey S. Mathiesen |
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| Jeffrey S. Mathiesen |
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| Chief Financial Officer, Treasurer and Secretary |
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FAQ
What did Solana Company (HSDT) stockholders approve at the special meeting?
How many shares were outstanding and eligible to vote for HSDT?
What was the quorum at Solana Company’s special meeting?
What were the vote results for the Strategic Advisor Warrants proposal?
What were the vote results for the cryptocurrency-related warrants proposal?
By how many shares was the 2022 Equity Incentive Plan increased?
Who was elected to Solana Company’s board?
