Full Press Release Details
Preeminent SOL Treasury Company Helius (NASDAQ:HSDT)
Announces Corporate Name Change to Solana Company and Letter of Intent with Solana Foundation
HSDT Solana Company's Mission is to maximize
SOL per share on one of the most commercially viable blockchains for consumer applications while delivering consistent on-chain yield
HSDT enters into agreement with the Solana
Foundation to establish its collaboration and commit to joint initiatives
This signifies HSDT's commitment to
building a long-lasting institution that accelerates the growth of Solana and being a powerful advocate for Solana's development alongside
the independent Solana Foundation and Solana Lab
Newtown, PA, September 29, 2025 -- Helius Medical
Technologies, Inc. (Nasdaq: HSDT) ("HSDT" or the "Company") announced that, following receipt of approval
from its Board of Directors, it has filed an amendment to its Certificate of Incorporation with the Delaware Secretary of State and amended
the Second Amended and Restated Bylaws to reflect a corporate name change from "Helius Medical Technologies, Inc." to "Solana
Company." The Company's ticker symbol for its Class A common stock, HSDT, will remain the same.
Additionally, the Company and certain of its investors
entered into a non-binding letter of intent with the Solana Foundation (the "Foundation"), which sets forth the principal
terms of HSDT's commitment to abide by "Solana By Design" terms, which includes conducting all on-chain activity solely
on Solana ("SOL"), institutional partnerships referrals, and joint initiatives to highlight Solana capabilities (including
co-hosted events, institutional roundtables and participation at Solana Foundation events). HSDT will have the option, subject to certain
conditions, to purchase a certain amount of SOL tokens from the Foundation at a discount.
The Company is also continuing to execute on its
accumulation of SOL tokens as part of its digital asset treasury strategy. The Company still holds cash from its recent $500mm PIPE financing,
which the Company intends to use to further its digital asset treasury strategy.
"DATs are providing access to the blockchain
market to a new kind of investor. Solana Company is well set up to be the preeminent SOL DAT by introducing Solana to a growing audience,"
said Dan Morehead, Founder and Managing Partner of Pantera Capital and Strategic Advisor to HSDT.
"Solana Company is a name that signifies
HSDT's commitment to building a long-lasting institution that accelerates the growth of Solana. HSDT's Solana DAT will be
a powerful advocate for Solana's development,"
said Cosmo Jiang, General Partner at Pantera Capital and Board Observer at HSDT.
"HSDT's announcements today, including
a corporate name change and agreement with the Solana Foundation, showcase its long-term conviction in Solana. The clear long-term alignment
is a show of support and sign of strength for the Solana Company's mission," said Joseph Chee, Executive Chairman of HSDT
and Chairman of Summer Capital.
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 Bitcoin (BTC) are typically non-yield-bearing.
Helius Medical Technologies, Inc. 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.
The Company has adopted a digital asset treasury
strategy focused on accumulating SOL, the native digital asset of the Solana blockchain, leveraging capital markets
raises that produce consistent on-chain yield generation. Helius Medical Technologies, Inc. will provide access to the Solana network.
Forward-Looking Statements
press 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 use of proceeds from the announced Offering, future
stockholder approvals, future announcements and priorities, expectations regarding management, corporate
governance, market position, business strategies, future financial and operating performance, and other projections or statements
of plans and objectives.
These forward-looking
statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties,
and other factors-many of which are beyond the Company's control-that may cause actual results, performance, or achievements
to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among
others, the Company's ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments
in technology and the competitive landscape; the market performance of SOL; and other risks and uncertainties described under "Risk
Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 25, 2025, and in other subsequent
filings with the SEC. These filings are available at www.sec.gov. The Company undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Twitter/X: @HeliusHSDT
Website: https://www.helius.company/
Helius Medical Technologies, Inc.
Pantera Capital Management LP
Summer Capital Management LP