Helius Medical Technologies Surges 250% After $500M Solana Treasury Raise Led by Pantera and Summer Capital

Shares of Helius Medical Technologies (Nasdaq: HSDT) skyrocketed more than 250% on Monday after the company announced a $500 million funding round to build a Solana-based digital asset treasury. The move positions Helius among a growing wave of publicly traded firms making long-term bets on Solana (SOL) as a corporate reserve asset.

The oversubscribed private investment in public equity (PIPE) was led by Pantera Capital and Summer Capital, with participation from a roster of major crypto investors including Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital.

According to Helius, the raise includes an additional $750 million in stapled warrants if fully exercised, bringing the potential total to $1.25 billion. The transaction is expected to close around September 18, pending regulatory and customary conditions.

Helius (NASDAQ:HSDT), in Partnership with Pantera Capital and Summer Capital Announces Over $500 Million in Funding to Launch SOL Treasury Company

Preeminent SOL-backed treasury vehicle - with potential to deliver over $1.25 billion - unlocks capital markets to accelerate Solana’s growth The offering was…

Cision PR NewswirePantera Capital

A Solana-Focused Treasury Strategy

Helius said it will use the proceeds to acquire SOL, which will become its primary reserve asset. The company cited Solana’s scalability, strong adoption metrics, and staking yields of around 7% as key factors behind its choice.

“We believe that Solana is a category-defining blockchain and the foundation on which a new financial system will be built,” said Dan Morehead, founder and managing partner of Pantera Capital. “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 worldwide.”

Helius plans to begin building its SOL position immediately and scale it over the next 12 to 24 months, while pursuing conservative staking and DeFi strategies. The company also pledged to provide transparency around its treasury holdings and maintain active engagement with the Solana community.

The new entity will be led by a team with extensive experience in capital markets and crypto. Leadership includes Summer Capital founder Joseph Chee, Pantera General Partner Cosmo Jiang, and Morehead, who will serve as a strategic advisor.

Stock Soars on Announcement

The market responded swiftly to the news. Helius shares surged from $7.56 at Friday’s close to $25.85 in pre-market trading on Monday, reflecting a gain of roughly 250%, according to TradingView data.

Helius joins a growing list of corporate players accumulating Solana. Recent moves include Galaxy Digital, Jump Crypto, and Multicoin Capital pledging $1.65 billion to Forward Industries, a Solana treasury company. Others in the space include DeFi Development Corp., Sol Strategies, and Upexi.

Clarifying the Name Confusion

The announcement caused initial confusion within the crypto community, with many mistaking Helius Medical Technologies for Helius Labs, a well-known Solana infrastructure company.

Helius Labs quickly clarified on X (formerly Twitter):

“We are not associated with the Helius which raised money in the public markets today. It is a completely different company.”

Helius Labs CEO Mert Mumtaz added:

“I have already received 50+ messages. IT IS NOT ME. I’m not involved with this at all — the name is yet another coincidence.”

Helius Medical Technologies’ bold pivot into a Solana-focused treasury underscores the growing momentum of corporate crypto adoption. With heavyweight backers like Pantera and Summer Capital, the company is betting big on Solana’s role in shaping the future of decentralized finance. Whether this strategy delivers long-term returns remains to be seen, but the market’s reaction signals strong investor interest in blockchain treasury models.