Helius Medical Technologies has made a significant shift by announcing the adoption of Solana (SOL) token as its primary treasury reserve after a successful fundraising.
Strategic Shift by Helius Medical Technologies
Helius Medical Technologies (NASDAQ: HSDT) announced a strategic shift to adopt Solana (SOL) as its primary treasury reserve asset. This decision comes after successfully raising $500 million in private investments.
Funding and Its Implications
The private investment in public equity (PIPE) deal was priced at $6.881 per share and led by crypto investment firms Pantera Capital and Summer Capital. The total potential capital raised could exceed $1.25 billion with additional warrants.
Competition in the Solana Market
Following the announcement, Helius shares rallied over 200% in pre-market trading, while the price of SOL dropped by 4%. This strategic pivot increases competition with Forward Industries, which also utilizes digital assets for commercial purposes.
Helius Medical Technologies’ strategic shift to using Solana illustrates a growing trend among publicly traded companies to actively leverage digital assets for yield generation and cost efficiency.
