Helius Medical Technologies ($HSDT) jumped 141% after announcing a $500 million private placement to build a Solana (SOL) treasury, joining a wave of Nasdaq-listed firms accumulating the cryptocurrency amid rising market enthusiasm.
Key facts:
- The PIPE deal was led by Pantera Capital and Summer Capital, alongside investors including Animoca Brands, FalconX, and HashKey Capital.
- Shares closed at $18.27, up 141%, recovering some ground after falling from a high above $770 in December 2023.
- Investors purchased stock and stapled warrants at $6.81 per share, with warrants exercisable at $10.13 for three years.
- Solana traded around $233, up nearly 60% in the past three months, fueling demand for corporate treasuries in the token.
- Other public companies including Forward Industries, Sharps Technology, Upexi, and DeFi Development Corp have also recently disclosed large Solana holdings.
Relevant Companies
- Helius Medical Technologies ($HSDT): Directly impacted by the $500 million raise and treasury strategy.
- Solana ($SOL): Underlying crypto asset being accumulated, trading near $233.
- Forward Industries ($FNDT): Recently became the largest public Solana treasury holder with $1.6 billion in SOL.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
