"On Monday, a neurotechnology company called Helius Medical Technologies announced that it was raising up to $1.25 billion in a private shares sale to stockpile Solana, one of the world's largest cryptocurrencies. The deal included $500 million of capital on hand and $750 million in warrants to fund future purchases of Solana. Pantera Capital, one of the biggest venture capital firms in crypto with over $5 billion in assets under management, and Summer Capital, an investment firm headquartered in Hong Kong, led the fundraise."
"Other participants included the crypto prime brokerage FalconX, the venture investor Animoca Brands, and Laser Digital, the crypto arm of the Japanese investment bank Nomura. As part of the deal, Joseph Chee, founder and chairman of Summer Capital, will become chairman of Helius Medical Technologies' board. Cosmo Jiang, general partner at Pantera, will also be a board director. And Dan Morehead, founder and CEO of Pantera, will become a board advisor."
Helius Medical Technologies is raising up to $1.25 billion in a private share sale to stockpile Solana, including $500 million in capital and $750 million in warrants for future purchases. Pantera Capital and Summer Capital led the fundraise, with participation from FalconX, Animoca Brands, and Laser Digital. Joseph Chee will become Helius's board chairman, Cosmo Jiang will join as a director, and Dan Morehead will serve as a board advisor. Helius positions itself to be a leading Solana digital asset treasury. The move follows a broader trend of public companies loading balance sheets with cryptocurrency, exemplified by MicroStrategy's Bitcoin strategy.
Read at Fortune Crypto
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