Helius Medical Technologies Inc (NASDAQ:HSDT) shares jumped 220% in premarket trading on Monday following the announcement of a strategic shift to operate as a Solana blockchain-focused treasury vehicle.
The company has launched an oversubscribed private investment in public equity (PIPE) offering, potentially raising over $1.25 billion. The PIPE itself accounts for more than $500 million in proceeds, with an additional $750 million possible if all stapled warrants are exercised.
The offering is being led by institutional and crypto-focused investors, including Pantera Capital and Summer Capital, and is expected to close around September 18, 2025. Helius plans to use the funds to implement a digital asset treasury strategy, with SOL—the native cryptocurrency of the Solana blockchain—as its main treasury reserve asset.
Following the closing, Helius will see leadership changes. Joseph Chee, Founder and Chairman of Summer Capital and former UBS executive, will become Director and Executive Chairman. Cosmo Jiang from Pantera Capital will join as Board Observer, while Dan Morehead, Founder of Pantera Capital, will serve as a strategic advisor.
“We believe that Solana is a category-defining blockchain and the foundation on which a new financial system will be built,” said Dan Morehead. “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.”
Helius’ common stock will continue trading under the ticker “HSDT” on the Nasdaq Capital Market, with the new treasury strategy taking effect immediately after closing.
Helius Medical Technologies stock price
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