Nasdaq-listed company Helius Medical Technologies is launching a treasury reserve plan worth up to $500 million, centered around Solana, which will become one of the largest treasury reserve plans focused on Solana to date.
The company announced on Monday that its oversubscribed Private Investment in Public Equity (PIPE) offering is priced at $6.88 per share, accompanied by warrants with an exercise price of $10.12, valid for three years. The overall transaction includes $500 million in equity and up to $750 million in warrants (assuming full exercise).
Helius stated that it will use the net proceeds from this offering to establish a cryptocurrency treasury strategy with Solana (SOL) tokens as the core reserve asset. The company further noted, "We will significantly expand our holdings over the next 12-24 months through a top-tier capital markets plan that integrates ATM sales and other proven strategies."
Additionally, Helius will explore staking and lending opportunities within the Solana ecosystem while maintaining a "conservative" risk profile to generate additional income from the SOL treasury.
The offering is led by the U.S. asset management firm Pantera Capital, which focuses on cryptocurrency, and the Asian fund management company Summer Capital, and is expected to be completed on Thursday. Other participants include Big Brain Holdings, Avenir, FalconX, Arrington Capital, Animoca Brands, and HashKey Capital.
Dan Morehead, founder and managing partner of Pantera Capital, stated, "We believe Solana is a groundbreaking blockchain that serves as the foundation for building a new financial system."
After the issuance is completed, the company's management team will be led by the incoming director and executive chairman Joseph Chee, who is currently the founder and chairman of Summer Capital and previously served as the head of UBS's Asia investment banking business.
Chee pointed out that this new cryptocurrency treasury tool will focus on "maximizing the per-share value of SOL by leveraging the most commercially viable decentralized finance and consumer application blockchains," and predicted that capital market transactions will "migrate to blockchain rails," including payment and tokenization applications.
Helius describes SOL as "financially productive by design," as it offers an approximately 7% native staking yield, while Bitcoin (BTC) is characterized as an "non-yielding" asset.
The latest announcement from Helius coincides with Galaxy Digital's $306 million purchase of Solana on Sunday and its collaboration with investment firm Multicoin Capital and trading firm Jump Crypto to establish a cryptocurrency fund reserve company, amid growing interest from institutional investors in Solana's treasury reserve strategy.
Industry analysts point out that the emergence of more corporate cryptocurrency fund reserve companies could boost market demand and drive up the price of Solana tokens. According to TradingView data, Solana has risen nearly 25% year-to-date.
Related: Base founder reveals native token plans at BaseCamp 2025 and announces the launch of Solana bridge.
Original article: “Nasdaq-listed Helius announces $500 million funding for Solana treasury reserve”
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