Helius Medical Technologies, Inc. Announces Exercise of Warrants and Issuance of New Warrants in a Private Placement for $3.7 Million Gross Proceeds Priced At-the-Market

Transaction Details - Helius Medical Technologies has entered into agreements with certain warrant holders to exercise outstanding warrants for 4,971,110 shares of common stock at a reduced exercise price of $0.751 per share, generating approximately $3.7 million in gross proceeds [1] - The new warrants will be exercisable for up to 6,213,888 shares of common stock, with 3,728,333 warrants exercisable for five years and 2,485,555 warrants exercisable for two years after stockholder approval [3] - Roth Capital Partners is acting as the financial advisor for this transaction [2] PoNS Device and Therapy - The Portable Neuromodulation Stimulator (PoNS) is a non-implantable, orally applied therapy that delivers neurostimulation through a mouthpiece to improve balance and gait, primarily used at home with physical rehabilitation exercises [5] - PoNS is indicated in the US for short-term treatment of gait deficit due to mild-to-moderate multiple sclerosis symptoms and is used as an adjunct to supervised therapeutic exercise programs for patients aged 22 and over [5] - In Canada, PoNS is authorized for sale in three indications: gait deficit due to stroke, chronic balance deficit due to mild-to-moderate traumatic brain injury, and gait deficit due to multiple sclerosis, all used in conjunction with physical therapy [6] - PoNS is also authorized for sale in Australia for short-term use by healthcare professionals as an adjunct to therapeutic exercise programs to improve balance and gait [6] Company Overview - Helius Medical Technologies is a leading neurotech company focused on neurologic deficits using an orally applied technology platform that amplifies the brain's ability to engage physiologic compensatory mechanisms and promote neuroplasticity [7] - The company's first commercial product is the Portable Neuromodulation Stimulator (PoNS) [8]