09:22 AM EDT, 09/15/2025 (MT Newswires) -- Helius Medical Technologies ( HSDT ) said Monday it priced a private placement expected to about $500 million to launch a Solana-focused treasury strategy.

The company said the deal, expected to close around Thursday, includes common stock and pre-funded warrants at about $6.88 each, with stapled warrants exercisable at roughly $10.13 for three years. If fully exercised, the transaction could exceed $1.25 billion, according to the company.

Helius Medical Technologies ( HSDT ) said it will use the net proceeds to acquire Solana's SOL token as its primary reserve asset and to build out treasury operations, while also evaluating staking and other revenue opportunities.

The financing was led by Pantera Capital and Summer Capital, with participation from other investors, the company said.

Helius Medical Technologies ( HSDT ) shares were up more than 215% in recent Monday premarket activity.