Solana Company chairman says ‘playing offense, not defense’

Solana Company (HSDT) released a letter from the Executive Chairman Joseph Chee, which read in part, “We are excited to enter the next phase of our lifecycle with a strong capital base and expanded accessibility for investors. This week will be remembered as a foundational moment for Solana Company. We have made the deliberate choice to move forward with our scheduled registration for resale of the shares purchased by investors in the recent private placement rather than delay it. Whereas some of our peers have decided to postpone it at the first sign of market volatility, we want to explain why we made this decision and why we feel it positions us for long-term success. Markets can be volatile, and digital asset treasury companies will continue to experience volatility with the broader macro market. In this next phase, with the resale registration statement effective, HSDT will be one of the largest effective market cap Solana DATs and therefore a strong investible option for institutional investors looking for exposure to Solana. Since we have launched the Solana treasury, we have opened up a new menu of capital providers and capital raise opportunities. That’s why we believe it’s appropriate to reach market equilibrium now rather than postpone the inevitable. The pressure on our stock price that comes with the effectiveness of the resale registration statement will likely shake out weak hands, but we believe this will also establish a remaining foundation of committed long-term shareholders. We’re delivering for our investors by registering their shares on time and leaving the choice in the hands of our investors, where it belongs. That’s what good stewardship looks like. If HSDT trades below its net asset value in the coming days or weeks, understand what that means: investors can buy one dollar of Solana for less than a dollar. HSDT is committed to doing the right thing to maximize shareholder value…This week may test your conviction. However, we are confident that disciplined investors who understand our strategy will one day look back on this period as an inflection point. We’re attempting to build the Berkshire Hathaway of the Solana ecosystem – a vehicle that compounds shareholder value and trades at a premium, with a strong balance sheet, a clear strategy, and the expertise of a team that is experienced with DATs and is shareholder-aligned with meaningful ownership. Our success is intertwined with Solana’s success, which is why we’re committed to actively contributing to ecosystem growth. We’re playing the long game, and we’re inviting you to join us. We’re playing offense, not defense. Thank you for your trust and partnership.”