Helius Medical Technologies Launches $500M Solana Treasury, Shares Surge 140%
Helius Medical Technologies has become the latest participant in the Altcoin Treasury market with the introduction of a $500 million treasury for Solana, making it one of the youngest companies to do so. This move is expected to increase access to institutional and retail investors in the Solana ecosystem, promoting its adoption worldwide.
The company, listed on Nasdaq, has secured an oversubscribed private equity offer of $500 million, led by Pantera Capital and Summer Capital, with the proceeds intended for building a long-term reserve denominated in Solana. The deal includes 750 million US dollars of additional arrest warrants, which can be exercised over a period of three years at $10.13.
According to Dan Morehead, founder and managing director of Pantera Capital, “We believe that Solana is a category-defining blockchain and the basis on which a new financial system is being built.” Morehead believes that the support of the new treasury “would increase access to institutional and retail to Solana ecosystem significantly and contribute to promoting its introduction worldwide”.
Scaling SOL Holdings and Creating Shareholder Value
Helius plans to scale its SOL holdings through capital market programs in the next 12 to 24 months, while maintaining a conservative risk profile within the Solana ecosystem. The company intends to use the possibilities of Solana to increase shareholder value and create additional value, unlike Bitcoin, which Helius referred to as a “non-yield supporter”. The Solana network offers a 7% native staking return, making it an attractive option for institutional investors.
Joseph Chee, chairman of Summer Capital, will guide the company’s management team as director and executive Chairman once the offer closes. Chee aims to maximize “Sol per share” and believes that the new financial vehicle will provide a welcome pivot for Helius’ shareholders, who have seen the company’s shares increase by over 140% after the announcement.
Solana Treasury Race Heats Up
Helius Medical Technologies is now part of a small list of eight other public companies that have introduced similar strategies in recent months. According to data tracked by Coencko, Defi Development Corp. is the largest company owner of SOL, with over 2.02 million tokens. Other companies, such as Upexi Inc. and Sharps Technology, also hold significant amounts of Solana tokens in their treasuries.
The launch of Helius Medical Technologies’ $500 million Solana treasury marks a significant milestone in the adoption of Solana by institutional investors. As the Solana ecosystem continues to grow, it is likely that more companies will follow suit, increasing the demand for SOL and promoting its use cases. For more information, visit https://crypto.news/helius-medical-technologies-launches-500m-solana-treasury-as-shares-surge-140/
