{"url_path":"/sec/hsdt/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1610853/0001104659-26-062611-index.html","accession_number":"0001104659-26-062611","cik":"0001610853","ticker":"HSDT","issuer_name":"Solana Co","edgar_url":"https://www.sec.gov/Archives/edgar/data/1610853/0001104659-26-062611-index.html","primary_entity_key":"0001610853","primary_entity_name":"Solana Co"},"word_count":437,"has_tables":true,"body_markdown":"Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds\n\nUnregistered Sales\n\nThere were no unregistered sales of the Company’s equity securities during the three months ended March 31, 2026 that were not previously reported on a Current Report on Form 10-Q.\n\n​\n\n27\n\n[Table of Contents](#TOC)\n\nStock Repurchases\n\nDuring the three months ended March 31, 2026, we executed open market purchases of approximately 1,603,971 shares at an average cost of $2.20 per share for an aggregate cost of $3.5 million, inclusive of fees and commissions under our authorized stock repurchase program. As of March 31, 2026, approximately $96.5 million remained available for future purchases under our stock repurchase program.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**(a)**\n\n​\n\n​\n\n**(b)**\n\n​\n\n**(c)**\n\n​\n\n​\n\n**(d)**\n\n**Period**\n\n**  ​ ​ ​**\n\n**Total number of shares purchased**(1)\n\n**  ​ ​ ​**\n\n**Average price paid per share**(2)\n\n**  ​ ​ ​**\n\n**Total number of shares purchased as part of publicly announced plans or programs**(3)\n\n**  ​ ​ ​**\n\n**Approximate dollar value of shares that may yet be purchased under the plans or programs (in millions)**(4)\n\nJanuary 1 – January 31, 2026\n\n \n\n233,528\n\n​\n\n$\n\n2.93\n\n​\n\n233,528\n\n​\n\n$\n\n99.3\n\nFebruary 1 – February 28, 2026\n\n \n\n815,156\n\n​\n\n \n\n2.08\n\n​\n\n815,156\n\n​\n\n​\n\n97.6\n\nMarch 1 – March 31, 2026\n\n​\n\n555,287\n\n​\n\n$\n\n2.07\n\n​\n\n555,287\n\n​\n\n$\n\n96.5\n\n**Total**\n\n \n\n1,603,971\n\n​\n\n​\n\n​\n\n​\n\n1,603,971\n\n​\n\n​\n\n​\n\n(1)All the shares of Class A common stock purchased recorded in this column were purchased pursuant to our publicly announced stock repurchase program.\n\n(2)Average price paid per share of Class A common stock includes brokerage commissions.\n\n(3)In November 2025, our Board of Directors authorized a stock repurchase program permitting us to purchase up to $100 million of our Class A common stock. Repurchases may be made from time to time through open-market purchases, block trades, and/or privately negotiated transactions (including accelerated share repurchases), and may include Rule 10b5-1 trading plans. Any repurchase will be executed in compliance with Rule 10b-18 of the Securities Exchange Act of 1934. We may determine the timing, amount and method of repurchases based on market conditions, share price, legal and regulatory requirements, and other considerations in its sole discretion. The program does not obligate us to repurchase any specific number of shares and may be modified, suspended or terminated at any time.\n\n(4)The dollar amount shown represents, as of the end of each period, the approximate dollar value of shares of our Class A common stock that may yet be purchased under the $100 million authorization, exclusive of any brokerage commissions."}