Helius Medical Technologies soars 250% on $500M Solana treasury raise led by Pantera, Summer Capital
Quick Take Helius Medical Technologies announced over $500 million in funding led by Pantera and Summer Capital to launch a Solana treasury company. Helius joins the growing ranks of crypto treasury companies, alongside firms like Forward Industries, Sol Strategies, DeFi Development Corp., and Upexi with a Solana focus.

Helius Medical Technologies, not to be confused with Solana infrastructure firm Helius Labs, announced an oversubscribed private investment in public equity offering on Monday, led by Pantera Capital and Summer Capital.
Other crypto-native investors, including Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital, also participated.
The offering is expected to raise over $500 million, with an additional $750 million in stapled warrants available upon full exercise, according to a statement . The offering is expected to close around Sept. 18, pending customary conditions. Proceeds will be used to launch a digital asset treasury strategy centered on acquiring SOL, which will become the company's primary reserve asset.
The firm said it chose Solana for its scale, adoption, and yield: a high-throughput network with millions of daily users, billions of transactions, and around a 7% native staking return that enables productive treasury management and broader DeFi opportunities.
"We believe that Solana is a category-defining blockchain and the foundation on which a new financial system will be built," Pantera Capital founder and Managing Partner Dan Morehead added. "A productive treasury company, backing the industry's most affordable, fastest, and most accessible network, stands to substantially increase institutional and retail access to the Solana ecosystem and help fuel its adoption around the world."
After closing, Helius will be led by a team with deep capital markets and crypto experience, including Summer Capital founder Joseph Chee, Pantera General Partner Cosmo Jiang, and Morehead as a strategic advisor. The company plans to build an initial SOL position and scale it over the next 12-24 months, while exploring staking and DeFi opportunities under a conservative risk framework, it said.
Shares will continue trading on Nasdaq under the ticker "HSDT," with the new treasury strategy taking effect immediately. Helius also pledged transparency on holdings and active engagement with the Solana community.
The firm's stock jumped around 250% in pre-market trading on Monday following the news. HSDT is currently changing hands for $25.85 compared to its $7.56 Friday close, per TradingView .
HSDT/USD price chart. Image: TradingView .
Helius Medical Technologies joins a growing list of firms accumulating Solana. Galaxy Digital, Jump Crypto, and Multicoin Capital recently pledged $1.65 billion to Forward Industries, a new publicly traded Solana treasury company that will buy and stake SOL, adding to other corporate holders of the cryptocurrency such as DeFi Development Corp. , Sol Strategies , and Upexi .
Helius name confusion
Many in the crypto community confused Helius Medical Technologies with prominent Solana infrastructure firm Helius Labs, which is not involved in the deal in any capacity.
"We are not associated with the Helius which raised money in the public markets today," Helius Labs posted on X. "It is a completely different company. Thank you for your attention to this matter!"
"I have already received 50+ msgs. IT IS NOT ME," Helius Labs CEO Mert Mumtaz added . "I'm not involved with this at all — the name is yet another coincidence. This is Pantera's DAT — neither I nor the actual Helius are involved."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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