Helius Medical Technologies, Inc. Announces Closing of $11.0 Million Underwritten Public Offering and Full Exercise of Over-A...
Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius”
or the “Company”), a neurotech company focused on neurological
wellness, announced today 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.
Ladenburg Thalmann & Co. Inc. acted as the sole bookrunning
manager of the offering.
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
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) filed pursuant to Rule 462(b), which
became effective on January 27, 2021.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
offering is being made solely by means of a prospectus. A final
prospectus relating to this offering was filed by Helius with the
SEC. Copies of the final prospectus can be obtained at the SEC’s
website at www.sec.gov or from Ladenburg Thalmann & Co. Inc.,
Prospectus Department, 640 Fifth Avenue, 4th floor, New York, NY
10019 or by email at firstname.lastname@example.org.
In respect of the public offering, the Company is relying on the
exemption set forth in Section 602.1 of the TSX Company Manual,
which provides that the Toronto Stock Exchange will not apply its
standards to certain transactions involving eligible interlisted
issuers on a recognized exchange, such as the Nasdaq Capital
About Helius Medical Technologies,
Helius Medical Technologies 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,
About the PoNS™ Device and PoNS
The Portable Neuromodulation Stimulator (PoNS™)
is authorized for sale in Canada as a class II, non-implantable,
medical device intended as a short term treatment (14 weeks) of
gait deficit due to symptoms from multiple sclerosis (MS), and
chronic balance deficit due to mild-to-moderate traumatic brain
injury (mmTBI) and is to be used in conjunction with physical
therapy. The PoNS™ is an investigational medical device in the
United States, the European Union (“EU”), and Australia (“AUS”).
The device is currently under review for de novo classification and
clearance by the FDA. It is also under premarket review by the AUS
Therapeutic Goods Administration. PoNS™ is currently not
commercially available in the United States, the European Union or
Investor Relations Contact:
Westwicke Partners on behalf of Helius Medical Technologies,
The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of the
content of this news release.