Helius Medical Technologies, Inc. Announces Proposed Underwritten Public Offering of Common Stock

Rhea-AI Summary

Helius Medical Technologies (HSDT) announced a proposed underwritten public offering of its common stock. The company will sell all shares, with a potential additional 15% option for the underwriter. Proceeds from the offering will be directed towards funding operations, working capital, and general corporate purposes. This offering is contingent on market conditions and follows a shelf registration statement effective since February 6, 2020. Ladenburg Thalmann & Co. Inc. is the sole book-running manager for this offering.

Positive

• The proposed offering aims to fund operations and working capital.
• The underwriter has a 45-day option for an additional 15% of shares.

Negative

• The offering may lead to shareholder dilution.
• Market conditions may impact the completion and size of the offering.

NEWTOWN, Pa., Nov. 09, 2021 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq: HSDT) (“Helius” or the “Company”), a neurotech company focused on neurological wellness, today announced that it has commenced a proposed underwritten registered public offering of shares of its common stock.

All of the shares of common stock to be sold in the proposed offering will be sold by the Company. In addition, the Company intends to grant the underwriter a 45-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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 proposed offering is being made 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. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available on 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 (PoNS^TM). 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. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

FAQ

What is the purpose of Helius Medical Technologies' public offering?

The public offering aims to fund operations, working capital, and general corporate purposes.

Who is managing HSDT's stock offering?

Ladenburg Thalmann & Co. Inc. is the sole book-running manager.

What are the terms of the HSDT stock offering?

All shares will be sold by Helius, with an option for the underwriter to purchase an additional 15%.

When was HSDT's registration statement declared effective?

The shelf registration statement was declared effective on February 6, 2020.

What risks are associated with HSDT's proposed public offering?

Risks include potential market conditions affecting the offering’s size and completion, as well as shareholder dilution.