Transaction Information
Helius Medical Technologies, Inc. (Nasdaq: HSDT) (TSX: HSM) announced the closing of an underwritten public offering of units for gross proceeds of approximately $11.0 million, which includes the full exercise of the underwriter's over-allotment option to purchase additional shares and warrants, prior to deducting underwriting discounts and commissions and offering expenses payable by Helius.
The offering is comprised of Units, priced at a public offering price of $14.82 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock at an exercise price of $16.302 per share that expires on the fifth anniversary of the date of issuance. The securities comprising the units are immediately separable and were issued separately. A total of 744,936 shares of common stock and warrants to purchase up to 372,468 shares of common stock were issued in the offering, including the full exercise of the over-allotment option.
The securities were offered pursuant to a registration statement on Form S-1 (File No. 333-251804), which was declared effective by the United States Securities and Exchange Commission ("SEC") on January 27, 2021 and an additional registration statement on Form S-1 (File No. 333-252495), which also became effective on January 27, 2021.
Ladenburg Thalmann & Co. Inc. acted as the sole book-running manager in connection with the offering.
About Helius Medical Technologies
Helius Medical Technologies, Inc. (Nasdaq: HSDT) (TSX: HSM) is a neurotech company focused on neurological wellness. The Company's purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain's ability to heal itself. The Company's first commercial product is the Portable Neuromodulation Stimulator (PoNS™). For more information, visit www.heliusmedical.com.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.