Solana Co shareholders approve director election and key equity proposals

Solana Co (NASDAQ:HSDT) announced that shareholders approved all proposals at a special meeting held Thursday. The information is based on a statement from the company’s recent SEC filing.

At the meeting, shareholders elected Cosmo Jiang to the board of directors, with 21,737,666 votes in favor and 4,675 votes withheld. No broker non-votes were recorded.

Shareholders also approved, in accordance with Nasdaq Listing Rule 5635(a), the issuance of shares of Class A common stock upon the exercise of Strategic Advisor Warrants issued to Pantera Capital Management LP and Summer Wisdom Holdings Limited. The proposal received 21,577,950 votes for, 152,144 against, and 12,247 abstentions.

Another approved measure authorized the issuance of shares upon the exercise of Cryptocurrency Pre-Funded Warrants and Cryptocurrency Stapled Warrants, which were issued in connection with the company’s acceptance of Solana (SOL) cryptocurrency as consideration in a private placement offering. The vote count was 20,135,405 in favor, 151,931 against, and 1,455,005 abstentions.

Shareholders approved an amendment to the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan, increasing the number of shares of common stock available for issuance by 4,000,000 shares. This proposal received 21,420,874 votes for, 319,816 against, and 1,651 abstentions.

Finally, shareholders authorized the board to adjourn the special meeting to solicit additional proxies if there were insufficient votes to approve the proposals. This measure received 21,734,015 votes for, 7,893 against, and 433 abstentions.

According to the filing, 21,742,341 shares were represented at the meeting, constituting a quorum out of 40,299,220 shares outstanding and entitled to vote as of the record date September 26, 2025.

These results were disclosed in a press release statement filed with the Securities and Exchange Commission.

In other recent news, Solana Company reported holding over 2.3 million Solana (SOL) tokens, an increase of approximately 1 million tokens since early October. The company disclosed cash and stablecoin holdings exceeding $15 million, which are earmarked for its digital asset strategy. Additionally, Solana Company achieved an average gross staking yield of 7.03% APY in October, surpassing the stake-weighted average of the top 10 validators. In a strategic move, the company announced it would proceed with a scheduled registration for the resale of shares from a recent private placement, aiming to establish a foundation of committed long-term shareholders despite market volatility. Solana Company also selected BitGo, along with Coinbase and Anchorage Digital, as custodians for its SOL holdings, enhancing security for its digital assets. The company recently rebranded from Helius Medical Technologies to Solana Company, reflecting its shift in focus. These developments highlight Solana Company’s ongoing efforts to bolster its position in the digital asset space.

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