Helius Shares Pump 141% Amid $500 Million Raise for Solana Treasury

Group 1 - Helius Medical Technologies has raised $500 million through a private placement in public equity (PIPE) to create a Solana treasury, indicating a shift among Nasdaq-traded companies towards accumulating SOL [1][2] - The PIPE offering was led by venture capital firms Pantera Capital and Summer Capital, with participation from several other notable investors, and is expected to close soon [2] - The announcement follows a trend of companies establishing Solana treasuries to capitalize on the rising digital asset markets, contributing to a rally in crypto prices, with Solana recently trading at $233, up nearly 60% over the past three months [3] Group 2 - Helius shares experienced a significant increase, closing at $18.27, which is a 141% rise in trading, recovering some losses from the past year [4] - The PIPE was described as "oversubscribed," with participants purchasing common stock at $6.81 and stapled warrants with an exercise price of $10.13, which can be exercised for three years [5] - The CEO of Helius humorously clarified on social media that his company is not involved in the treasury, highlighting the confusion surrounding the announcement [6][7]