Pantera Capital has partnered with Summer Capital to create a SOL treasury company. The plan was originally revealed last month.
SOL is the native digital asset of Solana. According to a public release, Helius Medical Technologies, Inc. (Nasdaq: HSDT) has priced an oversubscribed private investment in public equity offering (PIPE) for the purchase and sale of common stock at a price of $6.881 and warrants to purchase shares of common stock with an exercise price equal to $10.134 per stapled warrant. The warrants will be exercisable for a period of three years from the date of issuance.
The offering consists of over $500 million in proceeds from PIPE for the purchase and sale of common stock and over an additional $750 million in stapled warrants to purchase shares of common stock.
Investors include Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital.
Republic Digital is best known for its online capital formation services.
Pantera Managing Partner and founder Dan Morehead said they believe that Solana is the foundation for the new financial system.
“A productive treasury company, backing the industry’s most affordable, fastest, and most accessible network, stands to substantially increase institutional and retail access to the Solana ecosystem and help fuel its adoption around the world.”
Solana is known for its high transaction rate and low cost, performing better than other popular blockchains.
The offering is expected to close on September 18, 2025. Net proceeds will be used to acquire SOL. Solana has historically been the fastest growing blockchain, leading the industry in transaction revenue and processing more than 3,500 transactions per second. The network averages about 3.7 million daily active wallets and has surpassed 23 billion transactions year to date.
SOL also offers a ~7% native staking yield, whereas assets like BTC are non-yield-bearing.
Cosmo Jiang, General Partner at Pantera Capital, says they have built the expertise to set up the pre-eminent Solana treasury vehicle.
Following closing, the company will build an intitial position in SOL and then scale it over the next one to two years.
The common stock will continue to trade on Nasdaq under the ticker HSDT.