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Home » Neurostim tech developer Helius Medical prices $18M offering

Neurostim tech developer Helius Medical prices $18M offering

August 5, 2022 By Sean Whooley

Marketing image of the Helius Medical PoNS or portable neuromodulation stimulator
The PoNS (portable neuromodulation stimulator) [Image courtesy of Helius Medical]
Helius Medical Technologies (Nasdaq:HSDT) announced today that it priced a public offering of common stock worth $18 million.

Newtown, Pennsylvania-based Helius, which develops the PoNS (portable neuromodulation stimulator), is offering 24 million shares of Class A common stock and warrants to purchase up to 36 million shares of Class A common stock at a purchase price of 75¢ per share.

The public warrants in the offering will have an exercise price of 75¢ per share and are exercisable upon issuance with expiration after five years following the date of issuance.

Helius expects the offering to close on or about Aug. 9, subject to customary closing conditions. Roth Capital Partners, LLC is acting as lead placement agent, and Maxim Group LLC is acting as co-placement agent of the offering.

The company said in a news release that the $18 million in gross proceeds is earmarked for funding operations, working capital and other general corporate purposes.

Filed Under: Business/Financial News, Funding Roundup, Neurological, Neuromodulation/Neurostimulation Tagged With: Helius Medical Technologies

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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