05:34 PM EDT, 09/18/2025 (MT Newswires) -- Helius Medical Technologies ( HSDT ) said Thursday it closed a private placement of common stock and stapled warrants, raising more than $500 million in gross proceeds.

The company said the offering, led by Pantera Capital and Summer Capital, could generate an additional $750 million if all warrants are exercised, bringing total potential proceeds to over $1.25 billion.

Helius said it intends to use the funds to acquire Solana as its primary treasury reserve asset.

The company also named Summer Capital Chair Joseph Chee as executive chairman.