Helius Medical surges after plans to launch Solana treasury strategy

Helius Medical (HSDT) Technologies announced the pricing of an oversubscribed private investment in public equity 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. The offering is led by Pantera Capital, the first U.S. 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, the company stated. 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 (SOL-USD) 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,” Helius stated. The company added: “The Offering 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 closing conditions. Upon closing, 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. The Company’s 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 the closing. The Company 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.” Shares of Helius Medical are up 153% to $19.14 near midday.