Company: HSDTW
Filing Date: 2025-01-24
Form Type: 8-K
Source: 0001558370-25-000407
Chunk: 7

Company: Solana Co
Filing Date: 2025-01-24
Form: 8-K
Chunk 7
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-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01Entry into a Material Definitive Agreement.

On January 21, 2025, Helius Medical Technologies, Inc., a Delaware corporation (the “Company”), entered into warrant exercise inducement offer letters (the “Inducement Letters”) with certain holders (the “Holders”) of its existing Series A warrants and Series B warrants to purchase shares of the Company’s Class A common stock (the “Existing Warrants”), pursuant to which the Holders agreed to exercise for cash their Existing Warrants to purchase an aggregate of 4,971,110 shares of the Company’s common stock, in the aggregate, at a reduced exercise price of $0.751 per share, in exchange for the Company’s agreement to issue new Series C Warrants and Series D Warrants (the “Inducement Warrants”) on substantially the same terms as the Existing Warrants described below, to purchase up to 6,213,888 shares of the Company’s common stock (the “Inducement Warrant Shares”). The Company expects to receive aggregate gross proceeds of approximately $3.7 million from the exercise of the Existing Warrants by the Holders. The Company engaged Roth Capital Partners, LLC (“Roth”) to act as its financial advisor with the transactions summarized above and will pay Roth $0.2 million for its services, in addition to reimbursement for certain expenses.

The shares of the Company’s common stock issuable upon exercise of the Existing Warrants are registered for resale by the Holders pursuant to an existing registration statement on Form S-1 (File No. 333-278698) declared effective by the Securities and Exchange Commission (the “SEC”) on May 6, 2024.

The Company also agreed to file a registration statement on Form S-3 (or other appropriate form if the Company is not then Form S-3 eligible) covering the resale of the Inducement Warrants Shares issued or issuable upon the exercise of the Inducement Warrants (the “Resale Registration Statement”) within ten (10) calendar days of the date of the Inducement Letters. In the