Welcome to our dedicated page for Solana Co SEC filings (Ticker: HSDT), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Solana Co Executive Chairman Chee Choon Wee settled a large equity award into shares. On May 11, 2026, 1,109,118 restricted stock units converted into 1,109,118 shares of Class A Common Stock at $0.00 per share, leaving 1,109,118 shares held directly.
The RSUs were granted on September 18, 2025 under the 2022 Equity Incentive Plan, fully vesting on October 30, 2025 after shareholder approval of a share reserve increase. The filing also notes 5,377,125 Class A shares held indirectly by Fusion Summer Limited and 2,218,236 Strategic Advisory Warrants held indirectly by Summer Wisdom Holdings Limited with a $0.001 per-share exercise price, which are attributed to those entities.
Solana Co Schedule 13G/A reports that Solana Rocket Holdings Limited and Mr. CHUNG Wai Shing are deemed to beneficially own 5,834,950 shares of Class A Common Stock, representing 9.99% of the outstanding shares calculated as of April 27, 2026.
The filing states the 9.99% position reflects (i) 5,469,669 shares held directly by Solana Rocket, (ii) pre-funded warrants for 215,966 shares, and (iii) cash stapled warrants exercisable for up to 14,823,426 shares, with 365,876 shares treated as issuable under the Beneficial Ownership Blocker. Shares outstanding were 58,038,030 following the issuer's reported issuance and sale of 3,076,922 shares.
Solana Co director Lee Michel Kai Tai filed an amended initial insider report for the company, which trades under ticker HSDT. This Form 3/A identifies his status as a director but shows no reported purchases, sales, or other transactions in the company’s securities.
Solana Co director Sergio Mello has filed an initial Form 3 insider ownership report for HSDT. The filing lists him as a director of the company and does not report any insider transactions or derivative positions in this submission.
Solana Company is selling 3,076,922 shares of Class A common stock in a registered direct offering at $2.60 per share for a total offering price of $7,999,997.20, with delivery expected on or about April 28, 2026.
The company expects net proceeds of approximately $7.9 million to be used for accumulating SOL, working capital, general corporate purposes, business expansion and strategic initiatives. The offering is made under a Form S-3 shelf registration and assumes no exercise of outstanding warrants.
Solana Company entered into securities purchase agreements for a registered direct offering of 3,076,922 shares of Class A common stock at $2.60 per share, generating expected gross proceeds of about $8 million and net proceeds of about $7.9 million.
The company plans to use the cash to accumulate SOL tokens, fund working capital, support general corporate purposes, business expansion and other strategic initiatives. In connection with the deal, Solana Company granted purchasers put options allowing them, upon specified future events, to require the company to repurchase their shares at the original purchase price plus an internal rate of return of 7.0% per annum.
Solana Company reported upcoming changes to its Board of Directors. Sherrie Perkins and Paul Buckman told the company they will not stand for re-election when their current terms end at the 2026 Annual Meeting of Stockholders on May 21, 2026. The company states their decisions are not due to any disagreement over operations, policies, practices, strategy, management, or the Board.
On April 23, 2026, the Board increased its size from seven to nine members and appointed Michel Lee and Sergio Mello to fill the new seats, effective immediately. Both will receive cash and equity compensation under the existing non-employee director compensation policy and will be covered by the company’s standard indemnification agreement for directors and officers.
Solana Company announced that Antonella Favit‑Van Pelt, MD, PhD, has mutually agreed with the company to resign as Chief Medical Officer, effective April 8, 2026. The parties entered into a Separation Agreement effective the same date.
Under this agreement, Dr. Favit‑Van Pelt will receive a lump‑sum separation payment of $875,000, less applicable withholdings, to be paid within ten business days after the effective date. In return, she waives and releases employment‑related claims and must continue to honor confidentiality and invention assignment obligations from her employment agreement.
Solana Company is soliciting proxies for its 2026 Annual Meeting of Stockholders, to be held virtually on May 21, 2026 at 9:00 a.m. ET. Holders of its Class A common stock as of April 1, 2026, when 54,889,569 shares were outstanding, may vote.
Stockholders will elect seven directors and vote on ratifying CBIZ as independent registered public accounting firm for the year ending December 31, 2026. The board recommends voting FOR all director nominees and FOR Proposal 2.
The filing details board independence, leadership structure and committee assignments, and outlines executive pay. In 2025, CEO Dane Andreeff received total compensation of $2.1 million, CFO Jeffrey Mathiesen received $1.5 million, and Executive Chairman Joseph Chee received $6.9 million, including 1,109,118 RSUs tied to a 2025 private placement and digital asset treasury work. The proxy also describes change-in-control severance protections, a clawback policy for erroneously awarded compensation, and the company’s insider trading and board governance policies.