Solana Company (NASDAQ: HSDT) completed a registered direct offering of 3,076,922 shares of Class A common stock at $2.60 per share, according to a company statement. The offering raised approximately $8 million in gross proceeds, with net proceeds of about $7.9 million.

Mirae Asset led the offering with participation from Hashkey Capital. The company entered into a put option agreement granting purchasers the right to require share repurchases at the original purchase price plus a 7% annual return under specified future conditions.

Solana Company plans to use the net proceeds for acquiring Solana tokens (SOL), working capital, general corporate purposes, business expansion and strategic initiatives. The company operates as a digital asset treasury focused on accumulating SOL tokens.

The shares were offered through a shelf registration statement on Form S-3 that became effective on April 8, 2026. The company will file a final prospectus supplement with the Securities and Exchange Commission.

Solana Company describes itself as a publicly listed digital asset treasury created in partnership with Pantera and Summer Capital, focused on maximizing SOL per share through capital markets opportunities and on-chain activity.