Solana Company (NASDAQ: HSDT) announces $15 million registered direct offering to global institutional investors

KUALA LUMPUR, 1 OCTOBER 2026 —

Solana Company (NASDAQ:HSDT) said on September 30 that it has signed a securities purchase agreement with a single global institutional investor for a registered direct offering of 4,369,356 Class A common shares at $3.433 per share, together with warrants to purchase an equal number of shares at $3.776 each.

The offering is being used to fund the company’s growth strategy, which includes opportunistic share repurchases under its authorized buy‑back programme, potential acquisition of additional SOL tokens to expand its treasury, and working‑capital needs for business expansion and other strategic initiatives.

By pricing the shares at a 5 percent premium to net asset value (NAV) per share and the warrants at a 10 percent premium to NAV, the company signals confidence that the capital raised will be deployed to enhance per‑share SOL holdings and drive shareholder value.

At the close of September 24, 2026, Solana Company and its subsidiaries reported holdings of 2.3 million SOL and $2.3 million in cash and stablecoins, giving a total NAV of $278 million based on a SOL price of $119.

The $15 million raised will be added to this base, supporting the company’s objective of maximising “SOL per share” through active treasury management, institutional‑grade staking, validator operations and advisory services for financial institutions entering the blockchain space.

Clear Street acted as the exclusive placement agent for the offering. The securities are being sold pursuant to a shelf registration statement on Form S‑3 (File No. 333‑290429), which became effective on April 8, 2026. The offering will be made only by means of a base prospectus and prospectus supplement that form part of the effective registration statement. Final prospectus documents will be filed with the U.S.

Securities and Exchange Commission and made available on the SEC website and through the company’s investor‑relations office in Philadelphia.

The press release notes that the transaction does not constitute an offer or solicitation to sell the securities in any jurisdiction where such an offer would be unlawful prior to registration or qualification under local securities laws. It also contains forward‑looking statements regarding expected gross proceeds, the timing of the closing, and the anticipated benefits of the capital infusion for the company’s treasury strategy, validator infrastructure, advisory business and broader Solana ecosystem participation.

Forward‑looking statements are identified by terms such as “may,” “will,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and their negatives.

The company cautioned that actual results could differ materially due to a range of risks, including capital requirements, the performance of its digital‑asset treasury strategy, validator rewards, the conversion of advisory and staking pipelines, strategic partnership outcomes, macro‑economic conditions, logistics challenges, labour shortages, banking system disruptions, high inflation, high interest rates, operating costs, cash utilisation, revenue generation and other factors detailed in its Form 10‑K for 2025 and Form 10‑Q for the quarter ended June 30, 2026.

The company’s mission, as described in the release, is to “put more SOL behind every share,” linking public capital markets with the Solana blockchain to provide institutional investors with exposure to what it terms the most commercially viable blockchain for financial applications. By expanding its treasury and validator operations, Solana Company aims to create a self‑reinforcing flywheel that compounds value for shareholders.

The offering follows earlier announcements in August 2026 that highlighted the company’s role as a listed digital‑asset treasury and infrastructure provider, but the September 30 release provides the first detailed financial terms of a capital‑raising transaction since the April 2026 registration statement became effective. The company’s disclosed holdings and NAV calculation give investors a clear benchmark for assessing the premium applied to the new shares and warrants.

The transaction’s closing on or about October 1 will trigger the receipt of the $15 million gross proceeds, after deduction of placement‑agent fees and other offering expenses. The company has indicated that it will evaluate the timing and scale of any share repurchases and SOL acquisitions based on market conditions and shareholder interest, aligning with its stated objective of growing the treasury and enhancing per‑share SOL exposure.

Media inquiries were directed to M Group Strategic Communications on behalf of Solana Company. The company’s investor‑relations contact details were provided for access to the final prospectus supplement and related documents once filed with the SEC.

Related: Solana Company (NASDAQ: HSDT)