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The offer also includes stapled warrants to purchase shares of common stock with an exercise price equal to $10.134 per stapled warrant for an additional $750 million.
Other investors in the offer include Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital.
Helius and its co-partners, Pantera and Summer Capital, will use the fund to establish a SOL-backed treasury vehicle.
Helius Medical Technologies, Inc. (NASDAQ: HSDT) has teamed up with Pantera Capital and Summer Capital to launch a SOL treasury company. The three companies announced an oversubscribed private investment in public equity (PIPE) offering for the purchase and sale of common stock at $6.881 per share to raise $500 million.
The offer also includes stapled warrants to purchase shares of common stock with an exercise price equal to $10.134 per stapled warrant, exercisable for a period of three years from the date of issuance, raising an additional $750 million.
Pantera and Summer Capital led the round, with participation from Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital.
The companies will use the capital to establish a SOL-backed treasury vehicle, led by incoming Director and Executive Chairman Joseph Chee, Founder and Chairman of Summer Capital, with Cosmo Jiang and Dan Morehead, General Partner at Pantera Capital, as board observer, and Dan Morehead, Founder and Managing Partner of Pantera Capital, as advisor.
The offering is expected to close on or about September 18, 2025, subject to the satisfaction of customary closing conditions.
“We 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.”
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