Helius Medical Plans $1.25 Billion Solana Treasury
Helius Medical Technologies announced it will raise $1.25 billion to create a Solana (SOL) treasury. The funding includes over $500 million from a private investment in public equity (PIPE) deal. Another $750 million will come from a sales offering. The deal is led by Pantera Capital and Summer Capital.
The offering is expected to close by Thursday, subject to conditions. After closing, Joseph Chee, Founder of Summer Capital, will become Executive Chairman of Helius. Chee said, “All capital markets transactions are moving onto blockchain rails. Helius aims to connect public markets with the Solana network.”
Helius shares jumped nearly 160% on Monday after the announcement.
Forward Industries Buys 6.8 Million SOL
Forward Industries bought 6.8 million SOL tokens, worth about $1.5 billion. The purchase used funds from a recent $1.65 billion PIPE financing. This deal was led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
This purchase adds to growing corporate interest in Solana. Forward Industries made the announcement on Monday.
Solana ETFs See Strong Inflows
Solana exchange-traded products (ETPs) recorded $198 million in net inflows last week. This followed a record single-day inflow of $145 million. Data from CoinShares shows rising institutional demand for SOL.
Bitwise CIO Matt Hougan said Solana could rally by the end of the year due to this demand. Despite recent gains, SOL’s price dropped 6% in the past 24 hours.
