Pantera-Backed Solana Treasury Firm Helius Raises $500M, Stock Soars Over 200%

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Helius Medical Technologies (HSDT) announced connected Monday it's raising much than $500 cardinal successful a backstage financing circular to make a Solana-focused treasury company.

The conveyance volition clasp SOL, the autochthonal token of the Solana blockchain, arsenic its reserve plus and aims to grow to much than $1.25 cardinal via banal warrants tied to the deal, the property merchandise said.

The financing was led by Pantera Capital and Summer Capital, with information from investors including Animoca Brands, FalconX and HashKey Capital.

Shares of the steadfast rallied implicit 200% supra $24 successful pre-market trading pursuing the announcement. Solana was down 4% implicit the past 24 hours.

The steadfast is joining the latest question of caller integer plus treasuries, oregon DATs, with nationalist companies pivoting to rise funds and bargain cryptocurrencies similar bitcoin (BTC), ether (ETH) oregon SOL.

Helius is acceptable to rival with the recently launched Forward Industries (FORD) with a $1.65 cardinal warfare thorax backed by Galaxy Digital and others. That steadfast confirmed connected Monday that has already purchased 6.8 cardinal tokens for astir $1.58 cardinal past week.

Helius' program is to usage Solana’s yield-bearing plan to make income connected the holdings, earning staking rewards of astir 7% arsenic good arsenic deploying tokens successful decentralized concern (DeFi) and lending opportunities. Incoming enforcement president Joseph Chee, laminitis of Summer Capital and a erstwhile UBS banker, volition pb the firm's integer plus strategy alongside Pantera’s Cosmo Jiang and Dan Morehead.

"As a pioneer successful the integer plus treasury space, having participated successful the enactment of the strategy astatine Twenty One Capital (CEP) with Tether, Softbank and Cantor, Bitmine (BMNR) with Tom Lee and Mozayyx arsenic good arsenic EightCo (OCTO) with Dan Ives and Sam Altman, we person built the expertise to acceptable up the pre-eminent Solana treasury vehicle," Cosmo Jiang, wide spouse astatine Pantera Capital, said successful a statement.

"There is simply a existent accidental to thrust the flywheel of creating shareholder worth that Michael Saylor has pioneered with Strategy by accelerating Solana adoption," helium added.

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