Solana Company (NASDAQ:HSDT) (the "Company" or "Solana"), a publicly listed company that has expanded its business to include a digital asset treasury dedicated to acquiring and holding Solana tokens ("SOL"), today confirms that its Board of Directors (the "Board") has unanimously rejected the unsolicited, non-binding proposal it received on June 4, 2026  from Forward Industries, Inc. ("Forward") to acquire the Company in an all-stock business combination valued at $1.48 per Solana share.

After careful consideration, the Board unanimously concluded that the Forward proposal substantially undervalues the Company. Accordingly, the Board determined that the proposal was not in the best interests of the Company and its stockholders.