%Helius Medical Technologies (NASDAQ: $HSDT) has announced the launch of a $500 million treasury of %Solana (CRYPTO: $SOL) via an oversubscribed private equity placement by Pantera Capital and Summer Capital. The transaction allows investors to purchase shares at $6.88, with attached stapled warrants that are exercisable at $10.13 over three years. Additional warrants worth $750 million could push the total capital inflow to over $1.2 billion.
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The PIPE deal won the support of major digital asset investors, including Big Brain Holdings, FalconX, Arrington Capital, Animoca Brands, and HashKey Capital. The offering, which is slated to close this week, is a significant pivot for the Nasdaq-listed company as it places Solana at the heart of its treasury management strategy.
Helius confirmed that it will scale Solana holdings over time in the next 12 to 24 months. The company aims to take advantage of staking and lending opportunities while maximizing its return and keeping a conservative risk profile.
Institutional Demand Fuels Treasury Expansion
The treasury launch highlights Solana’s increasing importance as a corporate reserve asset. Unlike Bitcoin, which yields no return, Solana offers a 7% native staking return. Helius plans to use this feature to add shareholder value and increase its crypto exposure on the balance sheet.
Pantera Capital’s Dan Morehead described Solana as a “category-defining blockchain” with the potential to transform financial systems. Summer Capital’s Joseph Chee added that the vehicle’s target is to maximize “SOL per share,” signaling a shareholder-focused approach. Following the announcement, Helius’ stock price jumped over 140% to $18.27.
According to CoinGecko, Helius joins an elite group of eight other public companies employing Solana treasury strategies. DeFi Development Corp., formerly Janover Inc., currently holds the largest Solana balance of more than 2.02 million tokens. Other notable holders include Upexi Inc. and Sharps Technology, which hold over 2 million SOL treasuries.
The corporate treasury movement is not an isolated case of Helius. Galaxy Digital went on a five-day buying spree, adding $1.55 billion in Solana to its balance sheet. The acquisitions involved a $306 million acquisition of 1.2 million SOL, with tokens secured through Fireblocks.
Galaxy’s investment comes on the heels of its $1.65 billion investment in Forward Industries, which has recently pivoted into the Solana treasury business. The move makes Galaxy one of the biggest institutional supporters of the network.
The firm will continue trading on Nasdaq with the ticker HSDT after the PIPE offering closes. Updates on treasury expansion, staking initiatives, and shareholder approvals are expected in the coming weeks.
Institutional demand has played a central role in Solana’s recent market performance. Over the past year, SOL has appreciated nearly 80%. As of the latest trading session, it was valued around $235 despite a 3.52% daily decline.
