Helius Medical Technologies (HSDT) Prices 6.257M Share Common Offering at $0.35/Sh

Helius Medical Technologies, Inc. (NASDAQ: HSDT) announced today that it has entered into definitive agreements with healthcare focused institutional investors that provide for the purchase and sale of an aggregate of 6,257,144 shares of its Class A Common Stock, or common stock, at a purchase price of $0.35 per share in a registered direct offering, resulting in total gross proceeds of approximately $2.2 million. Helius also agreed to issue to the investors unregistered warrants to purchase up to 6,257,144 shares of its common stock. The warrants have an exercise price of $0.46 per share of common stock, will be exercisable on September 20, 2020, and will expire five years following the initial exercisability date.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The closing of the sale of the securities is expected to occur on or about March 20, 2020, subject to the satisfaction of customary closing conditions. Helius intends to use the net proceeds from the offering for working capital and general corporate purposes.

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