Helius Medical Technologies Announces Significant Strategic Transformation, Transitioning into an SOL Treasury Company through a Private Placement Exceeding USD 500 Million

On September 15, 2025, Summer Capital, in collaboration with Pantera Capital, a leading U.S.-based cryptocurrency asset fund, successfully completed a private placement investment exceeding USD 500 million ("PIPE") in Helius Medical Technologies (stock code: HSDT.O), acting as joint sponsors and lead investors. The PIPE offering was priced at USD 6.881 per share, with each share accompanied by one warrant (at a 1:1 ratio). The exercise price of the warrants is USD 10.134, exercisable within three years from the issuance date. If all warrants are exercised, the total financing scale of this transaction will exceed USD 1.25 billion. The proceeds raised by Helius will primarily be used to acquire SOL assets, build long-term strategic reserves, and foster deep ecosystem-level cooperation with the Solana Foundation in the Asian region.

This project is one of the few large-scale Digital Asset Treasury (“DAT”) initiatives jointly launched by Asian and U.S.-based institutions, featuring a team with extensive experience in both traditional capital markets and the cryptocurrency asset industry. Mr. Junwei Zhu, Founder and Chairman of Summer Capital, will assume the role of Executive Chairman of Helius and join the company's board of directors, taking full leadership of the company’s next phase of strategic development.

The offering attracted significant attention from investors focused on the DAT sector and those committed to supporting the Solana ecosystem over the long term. The subscription process resulted in oversubscription, prompting the company to expand the offering size. The transaction was jointly led by Summer Capital and Pantera Capital, with participation from several high-quality investment institutions, including Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital.

Summer Capital is a leading investment management and advisory firm specializing in the "new economy," with primary investments in early- and growth-stage projects across fintech, blockchain infrastructure and applications, consumer technology, and healthcare. Its operations span Hong Kong, mainland China, Southeast Asia, and Europe. As one of the pioneers of cryptocurrency asset investments in Asia, Summer Capital has systematically invested in blockchain and digital asset sectors since 2018, making it one of the earliest licensed fund management institutions in Asia to invest in this field.

Leveraging its extensive expertise in both fintech and traditional finance, Summer Capital effectively channels institutional capital from Asia that has previously been under-allocated to cryptocurrency assets through its broad industry network, significantly enhancing Helius’ capital operation capabilities. Additionally, the company demonstrates strong confidence in the Solana ecosystem and is committed to deepening its strategic partnership with the Solana Foundation to jointly promote continuous innovation and widespread adoption of blockchain technology.