Company: HSDTW
Filing Date: 2025-09-15
Form Type: 8-K
Source: 0001104659-25-089778
Chunk: 0

Company: Solana Co
Filing Date: 2025-09-15
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material
Definitive Agreement.

On September 15,
2025, Helius Medical Technologies, Inc. (the “ Company”) entered into a Sales Agreement (the “ Sales Agreement”)
with Clear Street LLC (“ Clear Street”) and Maxim Group LLC (“ Maxim”) (each, an “ Agent,” and, together,
the “ Agents”), as co-sales agents, pursuant to which the Company may offer and sell shares of the Company’s Class A
common stock, par value $0.001 per share (the “ Shares”) from time to time having an aggregate sales price of up to $92.8 million
(the “ Offering”).

On September 15,
2025, the Company filed a prospectus supplement with the Securities and Exchange Commission in connection with the Offering (the “ Prospectus
Supplement”) under its existing shelf Registration Statement on Form S-3 (File No. 333-270433) (the “ Registration
Statement”) initially filed with the SEC on March 9, 2023 and declared effective on May 26, 2023, and the base prospectus
contained therein. Prior to the execution of the Sales Agreement, the Company terminated the sales agreement, dated as of June 23,
2023, between the Company and Roth Capital Partners, LLC, in accordance with its terms.

Upon delivery
of a placement notice, and subject to the terms and conditions of the Sales Agreement, the Agents may sell the Shares by any method that
is deemed an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933,
as amended, or any other method permitted by law, which may include negotiated transactions or block trades. The Company may sell the
Shares through the Agents in amounts and at times to be determined by the Company from time to time subject to the terms and conditions
of the Sales Agreement, but neither it nor the Agents have an obligation to sell any of the Shares in the Offering. No assurance can be
given that the Company will sell any Shares under the Sales Agreement, or, if it does, as to the price or the amount of Shares that it
sells or the dates when such sales will take place. The Company or the Agents may suspend or terminate the Offering upon notice to the
other parties and subject to other conditions. The Agents will use commercially reasonable efforts basis to effect the Sales consistent
with normal trading and sales practices.

The Company
has