Helius Medical Technologies, Inc. Announces Pricing of $9.6 Million Underwritten Public Offering of Common Stock
November 10 2021 - 8:30AM
Helius Medical Technologies, Inc. (Nasdaq: HSDT) (“Helius” or the
“Company”), a neurotech company focused on neurological wellness,
today announced the pricing of an underwritten registered public
offering of 1,204,375 shares of its common stock at a price to the
public of $8.00 per share.
All of the shares of common stock to be sold in the offering
will be sold by the Company. In addition, the Company has granted
the underwriter a 45-day option to purchase up to an additional
180,656 shares of its common stock at the public offering price
less the underwriting discount.
The gross proceeds to the Company from this offering, before
deducting underwriting discounts and commissions and offering
expenses, but excluding any exercise of the underwriters’ option to
purchase additional shares, are expected to be approximately $9.6
million. The offering is scheduled to close on or about November
12, 2021, subject to customary closing conditions.
The Company intends to use the net proceeds from this proposed
offering for funding operations, working capital and other general
corporate purposes.
Ladenburg Thalmann & Co. Inc. is acting as the sole
book-running manager for the offering.
The shares will be issued pursuant to a shelf registration
statement on Form S-3 (File No. 333-236101) that was declared
effective by the U.S. Securities and Exchange Commission (“SEC”),
on February 6, 2020. The Company will file a final prospectus
supplement with the SEC relating to such shares of common stock.
Copies of the final prospectus supplement and the accompanying
prospectus relating to and describing the terms of the offering may
be obtained, when available, at the SEC’s website at www.sec.gov or
by contacting Ladenburg Thalmann & Co. Inc., Prospectus
Department, 640 Fifth Avenue, 4th floor, New York, NY 10019 by
email at prospectus@ladenburg.com.
This press release does not and shall not constitute an offer to
sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction. Any offer,
if at all, will be made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement.
About Helius Medical Technologies,
Inc.
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 (PoNSTM). For more information,
visit www.heliusmedical.com.
Forward Looking Statements
Certain statements in this news release are not based on
historical facts and constitute forward-looking statements or
forward-looking information within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and Canadian securities
laws. All statements other than statements of historical fact
included in this news release are forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
often identified by terms such as “believe,” “continue,” “intends
to,” “expect,” “will,” “goal,” “aim to” and similar expressions.
Such forward-looking statements include, among others, statements
regarding the Company’s anticipated closing of the public offering
and anticipated use of proceeds therefrom.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those expressed or implied by such statements.
Important factors that could cause actual results to differ
materially from the Company’s expectations include risks and
uncertainties related to market and other conditions, the
satisfaction of customary closing conditions related to the
proposed public offering, the impact of general economic, industry
or political conditions in the United States or internationally and
other risks described under the heading “Risk Factors” in our
filings with the Securities and Exchange Commission and the
Canadian securities regulators, which can be obtained from either
at www.sec.gov or www.sedar.com.
The reader is cautioned not to place undue reliance on any
forward-looking statement. The forward-looking statements contained
in this news release are made as of the date of this news release
and the Company assumes no obligation to update any forward-looking
statement or to update the reasons why actual results could differ
from such statements except to the extent required by law.
Investor Relations Contact:
Lisa M. WilsonIn-Site Communications, Inc.T: 212-452-2793E:
lwilson@insitecony.com
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