Helius Medical Technologies announced a 1-for-50 reverse stock split effective June 30, 2025, to meet Nasdaq requirements.
Quiver AI Summary
Helius Medical Technologies, Inc. has announced a 1-for-50 reverse stock split of its Class A common stock, effective June 30, 2025, aimed at meeting Nasdaq listing requirements. The stockholder proposal for this reverse split was approved on May 23, 2025, allowing the Board of Directors to decide the split ratio. Following the split, every 50 shares will convert to one share, with an adjustment to stock options and warrants correspondingly. The company's authorized shares remain at 150 million, but outstanding shares will decrease from about 33.8 million to 0.7 million. Helius continues to operate in the neurotech space, focused on addressing neurological deficits and enhancing patient outcomes through its products, including the Portable Neuromodulation Stimulator (PoNS®).
Potential Positives
- The approval of the 1-for-50 reverse stock split is a strategic move to comply with Nasdaq’s continued listing requirements, enhancing the company's standing in the market.
- The reduction in the number of outstanding shares from approximately 33.8 million to approximately 0.7 million may improve the stock's market perception and increase shareholder value.
- The company continues to trade on The Nasdaq Capital Market under the symbol “HSDT”, maintaining accessibility for investors and analysts.
- Helius Medical Technologies has a focus on innovative neuromodulation therapies, positioning itself as a leader in the neurotech field with potential for growth in the medical device market.
Potential Negatives
- The reverse stock split could signal financial distress, as it is often employed by companies to maintain compliance with stock exchange listing requirements, raising concerns among investors about the company's financial health.
- The significant reduction in the number of outstanding shares may impact liquidity for investors, which can lead to increased volatility in the stock price.
- Stockholders receiving cash for fractional shares instead of additional shares may lead to dissatisfaction among investors, potentially affecting their overall sentiment towards the company.
FAQ
What is the effective date for Helius Medical's reverse stock split?
The reverse stock split will be effective at 5:00 pm Eastern time on June 30, 2025.
What is the ratio of the reverse stock split for Helius Medical's stock?
Helius Medical announced a 1-for-50 reverse split of its Class A common stock.
How will the reverse split affect shareholders of Helius Medical?
Shareholders will see every 50 shares converted to one share of common stock, with no change in par value.
What happens to fractional shares after the reverse stock split?
Fractional shares will be rounded down, and shareholders will receive cash equal to the value of the fractional share.
Where can I find more information about the reverse stock split?
Additional information can be found in the definitive proxy statement filed with the SEC on May 2, 2025, available on the website.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$HSDT Hedge Fund Activity
We have seen 4 institutional investors add shares of $HSDT stock to their portfolio, and 16 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 72,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $433,080
- VIRTU FINANCIAL LLC removed 46,510 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $18,650
- CITADEL ADVISORS LLC added 27,208 shares (+inf%) to their portfolio in Q1 2025, for an estimated $163,656
- HRT FINANCIAL LP removed 23,803 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $9,545
- GEODE CAPITAL MANAGEMENT, LLC removed 19,148 shares (-89.1%) from their portfolio in Q1 2025, for an estimated $7,678
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 18,223 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $12,214
- VANGUARD GROUP INC removed 11,758 shares (-93.3%) from their portfolio in Q1 2025, for an estimated $4,714
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEWTOWN, Pa., June 27, 2025 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) (“Helius” or the “Company”), a neurotech company focused on delivering a novel therapeutic neuromodulation approach for balance and gait deficits, announced today a 1-for-50 reverse split of its Class A common stock, par value $0.001 (“common stock”), effective at 5:00 pm Eastern time on June 30, 2025. Beginning on July 1, 2025, the Company’s common stock will trade on The Nasdaq Capital Market on a split adjusted basis.
At the Company’s special meeting of stockholders on May 23, 2025, the stockholders approved a proposal to amend the Company’s Certificate of Incorporation to effect a reverse split of the Company’s outstanding common stock at a ratio in the range of 1-for-2 to 1-for-250 to be determined at the discretion of our Board of Directors, whereby each outstanding 2 to 250 shares would be combined, converted and changed into 1 share of common stock, to enable the Company to comply with the Nasdaq Stock Market’s continued listing requirements. Subsequently, the Board of Directors approved the reverse split at a ratio of 1-for-50. As a result of the reverse stock split, every 50 shares of the company's common stock issued and outstanding will be automatically converted into one share of common stock, with no change in the $0.001 par value per share or authorized number of shares of common stock.
Upon effectiveness, the reverse stock split will cause a reduction in the number of shares of common stock outstanding and issuable upon the conversion of the Company’s outstanding stock options and warrants in proportion to the ratio of the reverse split and will cause a proportionate increase in the conversion and exercise prices of such stock options and warrants. Any fraction of a share of common stock that would be created as a result of the Reverse Stock Split will be rounded down to the next whole share and the stockholder will receive cash equal to the market value of the fractional share, determined by multiplying such fraction by the closing sales price of the Company’s common stock as reported on Nasdaq on the last trading day before the Reverse Stock Split becomes effective (on a split-adjusted basis).
The Company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “HSDT.” The new CUSIP number for the common stock following the reverse split is 42328V 876.
The number of authorized shares of the Company’s common stock will remain at 150 million, while the number of outstanding shares will be reduced from approximately 33.8 million to approximately 0.7 million.
Additional information about the reverse stock split can be found in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on May 2, 2025, a copy of which is also available on the Company’s website under the Investor Relations page.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a leading neurotech company in the medical device field focused on neurologic deficits using orally applied technology platform that amplifies the brain’s ability to engage physiologic compensatory mechanisms and promote neuroplasticity, improving the lives of people dealing with neurologic diseases. The Company’s first commercial product is the Portable Neuromodulation Stimulator (PoNS ® ). For more information about PoNS or Helius Medical Technologies, visit www.heliusmedical.com .
Investor Relations Contact:
Philip Trip Taylor
Gilmartin Group
[email protected]
