Solana Company prices $15M direct offering at premium to NAV

Solana Company (NASDAQ: HSDT), a digital asset treasury and infrastructure company focused on the Solana blockchain, announced the pricing of a $15 million registered direct offering with a single institutional investor.

Under a securities purchase agreement, the company will issue 4,369,356 shares of Class A common stock at $3.433 per share, accompanied by warrants to purchase up to 4,369,356 additional shares at an exercise price of $3.776 per share. The share price was set at a 5% premium to net asset value (NAV) per share, while the warrant exercise price was set at a 10% premium to NAV per share.

As of September 24, 2026, the company and its subsidiaries held 2.3 million SOL tokens and $2.3 million in cash and stablecoins, reflecting a total NAV of $278 million based on a SOL price of $119.

The company stated it intends to use the proceeds to support growth in Solana per share, which may include opportunistic stock buybacks under its authorized repurchase program, acquiring additional Solana tokens, working capital, general corporate purposes, and business expansion.

Clear Street served as exclusive placement agent for the offering, which is expected to close on or about October 1, 2026, subject to customary closing conditions. Gross proceeds are expected to be approximately $15 million before placement agent fees and other offering expenses.

The securities are being offered pursuant to a shelf registration statement on Form S-3 that became effective April 8, 2026.

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