Solana Co

Solana Company announced the signing of a Memorandum of Understanding (MoU) with the Administration of Alatau City. This strategic partnership aims to develop Alatau City into a leading international center for digital asset, fintech, and blockchain activity in Central Asia. The collaboration will leverage Solana Company's expertise across four strategic areas, including Digital Asset Treasury and Blockchain Infrastructure, supporting Alatau City's $6 billion development plan.

Solana Company's Board of Directors unanimously rejected an unsolicited, non-binding proposal from Forward Industries, Inc. to acquire the Company. The all-stock business combination was valued at $1.48 per Solana share. The Board concluded that the proposal substantially undervalues the Company and was not in the best interests of its stockholders.

Solana Company has amended and restated its sales agreement with Clear Street LLC and Maxim Group LLC, significantly increasing the maximum aggregate gross sales price for its existing "at-the-market" (ATM) offering. The capacity has been raised from $92.8 million to $250 million. Under the previous agreement, the company had already issued and sold shares for aggregate gross proceeds of $24.66 million. The co-sales agents will receive commissions of up to 3.00% of the gross proceeds from sales and will be reimbursed for certain legal expenses up to $75,000.

At its Annual Meeting on May 21, 2026, Solana Company's stockholders elected a total of six directors, each to serve a one-year term until the 2027 annual meeting. Additionally, the appointment of CBIZ CPAs P.C. as the independent registered public accounting firm for the year ending December 31, 2026, was ratified. Following the meeting, the audit committee of the Board of Directors was reconstituted.

Solana Co. reported a net loss of $99.8 million for the first quarter of 2026, a substantial increase from the $3.84 million net loss in the prior year's quarter. This widened loss was primarily driven by $89.2 million in unrealized losses and $7.0 million in realized losses on digital assets. Despite the losses, total revenue grew significantly to $3.62 million from $49 thousand, mainly due to staking revenue. The company's total assets decreased to $200.7 million, with digital assets comprising 85.8% of its holdings.

Solana Company reported Q1 2026 financial results with revenue of $3.6 million, a substantial increase from $49,000 in the prior year, primarily driven by SOL staking yield. However, the company recorded a net loss of $99.8 million, largely due to $89.2 million in unrealized losses and $7.0 million in realized losses on digital assets. Solana Company also executed approximately $3.5 million in share repurchases and progressed its validator infrastructure initiatives through strategic partnerships.

Solana Co reported Q1 2026 revenue of $3.6 million, a significant increase from $49,000 in Q1 2025, primarily driven by SOL earning staking yield. However, the company posted a net loss of $99.8 million, or $(1.30) per share, largely due to non-cash charges totaling $89.2 million for unrealized losses on digital assets. Solana Co also executed $3.5 million in share repurchases and appointed Madelene Gani as COO and Deputy CFO.

Solana Company announced it will release its first quarter operating results on Friday, May 15, 2026, after market close. Management will host a conference call on the same day at 4:30 p.m. Eastern Time to discuss the results and provide a business update. The webcast will be archived under the News & Events section of the Company's investor relations website.

Jito Foundation and Solana Company (HSDT) announced a strategic partnership to enhance institutional adoption of Solana in the APAC region. The collaboration will focus on deploying and operating high-performance Solana validators running the Jito Block Assembly Marketplace across key APAC markets like Hong Kong, Singapore, Japan, and South Korea. Additionally, they will co-develop institutional-grade staking and yield solutions using JitoSOL and implement a joint go-to-market strategy for institutional engagement.

Solana Company (HSDT) announced a definitive agreement for a registered direct offering of 3,076,922 shares of Class A common stock at a purchase price of $2.60 per share. The offering, led by global institutional investor Mirae Asset with participation from Hashkey Capital, is expected to generate approximately $8 million in gross proceeds and $7.9 million in net proceeds for the company. HSDT intends to use the funds for accumulating Solana tokens (SOL), working capital, general corporate purposes, business expansion, and other strategic initiatives. Additionally, the company entered into a put option agreement, granting purchasers the right to require HSDT to repurchase shares under specified future events at a price yielding a 7.0% per annum internal rate of return.