NEWTOWN, Pa., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM), a neurotech company focused on neurological wellness, announced today announced the pricing of an underwritten public offering of units for gross proceeds of approximately $9.6 million prior to deducting underwriting discounts and commissions and offering expenses payable by Helius. The offering is comprised of 647,772 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 will be issued separately. The closing of the offering is expected to take place on or about February 1, 2021, subject to the satisfaction or waiver of customary closing conditions.
Ladenburg Thalmann & Co. Inc. is acting as the sole bookrunning manager of the offering.
A total of 647,772 shares of common stock and warrants to purchase up to 323,886 shares of common stock will be issued in the offering. In addition, the Company has granted the underwriters a 45-day option to purchase up to 97,164 additional shares of common stock and additional warrants to purchase up to 48,582 shares of common stock, solely to cover over-allotments, if any, at the public offering price per share and per warrant, less the underwriting discounts and commissions.
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.
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.
About the PoNS™ Device and PoNS Treatment™
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 Australia.
