Helius announces strategic transformation and shares soar

Helius Medical Technologies (NASDAQ: HSDT) has soared 270% in pre-market trading after announcing its strategic transformation into a SOL Finance company. The company's stock closed at $7.56 on the previous trading day, with a market value of about $8.14 million. Helius announced a significant shift in its business strategy and received more than $500 million in private investment. The transformation was led by Pantera Capital and Summer Capital through a PIPE (private investment public equity) deal that has been oversubscribed. The investment includes the sale of common stock at $6.881 per share and the sale of warrants at $10.134 per share. If all warrants are exercised, their total financing may exceed $1.25 billion.