Helius Medical Technologies, a Nasdaq-listed company, has announced the creation of a $500 million Solana-focused corporate treasury, making it one of the largest institutional treasury initiatives centered around the blockchain to date.
$500M Funding Backed by Global Investors
The company revealed on Monday that it priced an oversubscribed private investment in public equity (PIPE) offering at $6.88 per share, with stapled warrants exercisable at $10.12 for three years. The financing package includes $500 million in equity and up to $750 million in warrants, assuming full exercise.
Proceeds will be directed toward building a Solana (SOL) treasury reserve over the next 12–24 months through a mix of capital markets strategies, including at-the-market (ATM) sales. Helius also intends to explore staking and lending opportunities within Solana’s ecosystem to generate yield while maintaining a “conservative” risk profile.
Strategic Backing from Leading Funds
The initiative is led by Pantera Capital and Summer Capital, alongside participation from Big Brain Holdings, Avenir, FalconX, Arrington Capital, Animoca Brands, and HashKey Capital. The offering is scheduled to close on Thursday.
Dan Morehead, founder of Pantera Capital, emphasized Solana’s potential, stating:
“We believe that Solana is a category-defining blockchain and the foundation on which a new financial system will be built. A productive treasury vehicle can substantially increase institutional and retail access to Solana’s ecosystem.”
Solana’s Institutional Momentum
Incoming director and executive chairman Joseph Chee, founder of Summer Capital and former UBS Asia investment banking head, will lead Helius’ new treasury venture. He highlighted the company’s mission to maximize “SOL per share” by leveraging blockchain rails for future payments and tokenization.
Helius underscored Solana’s appeal as a yield-bearing blockchain, offering roughly a 7% native staking return, compared to Bitcoin’s non-yield-bearing profile.
The move follows Galaxy Digital’s $306 million Solana purchase announced last week, in partnership with Multicoin Capital and Jump Crypto to establish a crypto treasury vehicle. With more firms allocating to Solana, analysts suggest rising institutional adoption could fuel further price appreciation, as SOL has already gained nearly 25% year-to-date.
Disclaimer
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