Full Press Release Details
Helius (NASDAQ:HSDT),
in Partnership with Pantera Capital and Summer Capital
Million in Funding to Launch SOL Treasury Company
SOL-backed treasury vehicle - with potential to deliver over $1.25 billion - unlocks capital markets to accelerate Solana's growth
- September 15, 2025 Helius Medical Technologies, Inc. (Nasdaq: HSDT) ("Helius" or the "Company")
today announced the pricing of an oversubscribed private investment in public equity offering (the "Offering") for the purchase
and sale of common stock (and/or pre-funded warrants to purchase shares of common stock) at a purchase price of $6.881 and stapled warrants
to purchase shares of common stock with an exercise price equal to $10.134 per stapled warrant. The stapled warrants will be exercisable
for a period of three years from the date of issuance.
is led by Pantera Capital, the first US institutional asset manager focused exclusively on blockchain and a pioneer in DATs, and Summer
Capital, one of the earliest licensed fund managers in Asia to invest in crypto, with participation from a high-quality group of investors
including Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital,
HashKey Capital, and Republic Digital.
of the Offering is expected to occur on or about September 18, 2025, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds of the Offering to implement a digital asset treasury strategy and acquire SOL, the native
cryptocurrency of the Solana blockchain. SOL will serve as the Company's primary treasury reserve asset. Solana has historically
been the fastest growing blockchain, leading the industry in transaction revenue and processing more than 3,500 transactions per second.
The network is also the most widely adopted, averaging about 3.7 million daily active wallets and surpassing 23 billion transactions year
to date. SOL is financially productive by design, offering a ~7% native staking yield, whereas assets like BTC are non-yield-bearing.
The Company intends to leverage the native yield-generating properties of Solana's architecture - and capture opportunities
in DeFi and broader onchain activity.
believe that Solana is a category-defining blockchain and the foundation on which a new financial system will be built," said Dan
Morehead, Founder and Managing Partner of Pantera Capital. "A productive treasury company, backing the industry's most affordable,
fastest, and most accessible network, stands to substantially increase institutional and retail access to the Solana ecosystem and help
fuel its adoption around the world."
closing, the Company's management team will combine decades of experience across global capital markets and digital assets, including
from incoming Director and Executive Chairman, Joseph Chee (Founder and Chairman of Summer Capital and Former Head of Investment Banking,
Asia at UBS), Board Observer Cosmo Jiang (General Partner at Pantera Capital) and Strategic Advisor Dan Morehead (Founder and Managing
Partner of Pantera Capital).
a pioneer in the digital asset treasury space, having participated in the formation of the strategy at Twenty One Capital (CEP) with Tether,
Softbank and Cantor, Bitmine (BMNR) with Tom Lee and Mozayyx as well as EightCo (OCTO) with Dan Ives and Sam Altman, we have built the
expertise to set up the pre-eminent Solana treasury vehicle. There is a real opportunity to drive the flywheel of creating shareholder
value that Michael Saylor has pioneered with Strategy (fka Microstrategy) by accelerating Solana adoption," said Cosmo Jiang, General
Partner at Pantera Capital.
are thrilled to join forces with a leadership team laser-focused on maximizing SOL per share by leveraging the most commercially viable
blockchain for decentralized finance and consumer applications," said Joseph Chee, Founder and Chairman of Summer Capital. "Our
thesis is that all capital markets transactions, from tokenization to payments, are moving onto blockchain rails, and Helius
aims to bridge public markets with the Solana network, where we expect the majority of that activity to take place."
Strategy and Institutional Roadmap
closing, the Company expects to:
consists of over $500 million in proceeds from a private investment in a public equity transaction for the purchase and sale of common
stock (and/or pre-funded warrants to purchase shares of common stock) and over an additional $750 million
in stapled warrants to purchase shares of common stock (assuming full exercise of the stapled warrants).
The stapled warrants will be exercisable for a period of three years from the date of issuance and have an exercise price equal to $10.134
per stapled warrant. Investors that intend to fund their purchase amount with locked and/or unlocked SOL in the offering will be issued
and sold pre-funded warrants and stapled warrants, which warrants will become exercisable immediately following the Company's receipt
of stockholder approval. The Offering is expected to close on or around September 18, 2025, subject to the satisfaction of customary
the Company intends to use the net proceeds from the Offering primarily to fund the acquisition of SOL in the open market and the establishment
of the Company's SOL treasury operations, as well as for working capital and general corporate purposes.
common stock will continue to trade on the Nasdaq Capital Market under the ticker "HSDT"
through the closing of the Offering, with the updated treasury strategy effective immediately following
will emphasize transparency and verification of holdings, strong engagement with the SOL ecosystem and community. Additional updates on
the Offering, SOL acquisitions, treasury growth, relevant Stockholder Approvals and governance measures are expected in the coming weeks.
served as the exclusive financial advisor and lead placement agent to the Company and Maxim Group LLC and Tiger Securities acted as co-placement
agents to the Company. Honigman LLP served as counsel to the Company. Reed Smith LLP served as counsel to Pantera Capital. Cooley LLP served
as counsel to Summer Capital. Winston & Strawn LLP served as counsel to Clear Street.
provided in this press release is intended for informational purposes only and does not constitute investment advice, endorsement, analysis,
or recommendations with respect to any financial instruments, investments, or issuers. Investment in cryptocurrency and DeFi projects
involves substantial risk, including the risk of complete loss. This press release does not take into account the investment objectives,
financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors
before making any investment decisions.
and sale of the securities in the Offering, including the shares of common stock underlying the pre-funded warrants, are being made to
institutional accredited investors in a transaction not involving a public offering pursuant to Section 4(a)(2) of the Securities
Act of 1933, as amended (the "Securities Act") and/or Rule 506(b) of Regulation D promulgated thereunder, and have
not been registered under the Securities Act or applicable state securities laws. Accordingly, the securities to be issued in the Offering
and shares of common stock underlying the pre-funded warrants may not be offered or sold in the United States except pursuant to an effective
registration statement with the Securities and Exchange Commission ("SEC") or an applicable exemption from the registration
requirements of the Securities Act and such other applicable state securities laws.
release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there
be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to
the registration or qualification under the securities laws of any such state or other jurisdiction.
Medical Technologies, Inc.
Helius Medical Technologies is a leading
neurotech company in the medical device field focused on neurologic deficits using orally applied technology platform that amplifies
the brain's ability to engage physiologic compensatory mechanisms and promote neuroplasticity, improving the lives of people dealing
with neurologic diseases. The Company's first commercial product is the Portable Neuromodulation Stimulator. For more information
about the PoNS or Helius Medical Technologies, visit www.heliusmedical.com.
Capital Management LP
is the first institutional investment firm focused exclusively on bitcoin, other digital currencies, and companies in the blockchain tech
ecosystem. Pantera launched the first cryptocurrency fund in the United States when bitcoin was at $65 /BTC in 2013. The firm subsequently
launched the first exclusively-blockchain venture fund. In 2017, Pantera was the first firm to offer an early-stage token fund. Pantera
Bitcoin Fund has returned 153,159% in twelve years and has returned billions to its investors. Pantera manages $5.2bn across three strategies
- passive, hedge, and venture - exclusively focused on bitcoin, other digital currencies, and companies in the blockchain
leadership in the Digital Asset Token (DAT) space, Pantera has invested in the first U.S. DATs (DFDV, CEP) and committed over $300 million
to DAT investments, making it one of the most active investors in this area. The firm's early and exclusive focus on blockchain
has established significant credibility on Wall Street and among mainstream investors, bridging traditional finance with the emerging
digital asset sector. Pantera's largest active investment is in Solana, underscoring its strong, long-term conviction in the potential
of this blockchain ecosystem.
About Summer Capital Limited
is a prominent investment management and advisory firm with operations spanning Hong Kong, mainland China, and Southeast Asia. The firm
specializes in early-stage and growth-stage investments across "new economy" sectors such as fintech, blockchain infrastructure
and applications, consumer technology, and healthcare. As a crypto pioneer in Asia, Summer Capital has been one of the earliest licensed
fund managers in Asia and actively invests in crypto/blockchain sector since 2018. Most of the investment professionals at Summer Capital
have extensive investment banking and/or capital markets experience which is relevant to building out DATs.
leverages longstanding relationships to access historically under-allocated institutional capital in Asia, enhancing its capital distribution
capabilities. In addition, the firm maintains a strong conviction in Solana, and will continue to strengthen the partnerships with the
Note Regarding Forward-Looking Statements
release contains statements that constitute "forward-looking statements" within the meaning of the U.S. federal securities
laws. Forward-looking statements are statements other than historical facts and include, without limitation, statements regarding the
potential for and amount of additional cash proceeds from warrant exercises, the anticipated closing date of the Offering, the anticipated