Nasdaq-listed firm Helius Medical Technologies Inc. unveiled the launch of a $500 million Solana-focused Digital Asset Treasury (DAT) backed by Pantera Capital and Summer Capital.
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Helius Reveals Solana Treasury Strategy
On Monday, Helius Medical Technologies, a neurotech company in the medical device field, announced an oversubscribed private investment in public equity (PIPE) offering of common stock to launch a new Solana treasury strategy.
The offering, led by Pantera Capital and Summer Capital, is estimated to raise $500 million and an additionalย $750 millionย in stapled warrants to purchase shares of common stock, assuming full exercise.
Additionally, Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital are also participating in the offering, which is expected to close on September 18, 2025.
Following the closing, the companyโs management team will include Summer Capitalโs founder, Joseph Chee,ย as Director and Executive Chairman,ย Panteraโs General Partner, Cosmo Jiang, as Board Observer, and Pantera Capitalโs founder, Dan Morehead, as Strategic Advisor.
According to the announcement, Helius intends to use the offeringโs proceeds to implement a DAT strategy and purchase Solanaโs native token, SOL, to make it the companyโs primary treasury reserve asset.
Notably, the company expects to build an initial SOL position, with plans to significantly scale holdings over the next 12โ24 months through a best-in-class capital markets program, incorporating ATM sales and other proven strategies.
Additionally, it will evaluate staking, lending, and other opportunities throughout the ecosystem to generate revenue from the SOL Treasury, while maintaining a conservative risk profile, the company explained.
Institutions Push SOL Adoption
Cosmo Jiang told news media outlet Fortune he believes there can only be a handful of successful public companies dedicated to just one cryptocurrency, affirming that โjust as much as it is about scale, itโs about velocity.โ
โWeโd much rather start with a moderate size so that we can really go out to market and grow very quickly, rather than start too big and then have a harder time growing on a percentage basis,โ he said.
He affirmed that the deal structure for this Solana treasury company positions it to be competitive: โWe believe we have the right setup to be the leading, if not, at least one of the two or three, but certainly the leading, Solana DAT.โ
Itโs worth noting that recently, Galaxy Digital, Jump Crypto, and Multicoin Capital announced their plan to establish Forward Industries, a SOL treasury company, to purchase the cryptocurrency, stake it, and generate excess returns. The company successfully closed its PIPE financing on September 11, securing gross proceeds of approximately $1.65 billion.
In the press release, he also highlighted that โthere is a real opportunity to drive the flywheel of creating shareholder value thatย Michael Saylorย has pioneered with Strategy (โฆ) by acceleratingย Solanaย adoption.โ
Meanwhile, Dan Morehead affirmed that Solana is a โcategory-defining blockchain and the foundation on which a new financial system will be built,โ adding that โa productive treasury company, backing the industryโs most affordable, fastest, and most accessible network, stands to substantially increase institutional and retail access to theย Solanaย ecosystem and help fuel its adoption around the world.โ
Featured Image from Unsplash.com, Chart from TradingView.com
