Helius Medical Technologies Prices of $18 Million Public Offering

NEWTOWN, Pa., Aug. 05, 2022 (GLOBE NEWSWIRE) — Helius Medical Technologies, Inc. (Nasdaq: HSDT), a neurotech company focused on neurological wellness, today announced the pricing of a public offering of (i) 24,000,000 shares of its Class A common stock (or common stock equivalents in lieu thereof) and (ii) warrants to purchase up to 36,000,000 shares of its Class A common stock  at a purchase price of $0.75 per share and associated Public Warrant. The Public Warrants will have an exercise price of $0.75 per share, are exercisable upon issuance, and will expire five years following the date of issuance. The offering is expected to close on or about August 9, 2022, subject to customary closing conditions.

Roth Capital Partners, LLC is acting as lead placement agent and Maxim Group LLC is acting as co-placement agent of the offering.

Gross proceeds, before deducting placement agent fees and commissions and offering expenses are expected to be $18 million. The Company intends to use the net proceeds from this proposed offering for funding operations, working capital and other general corporate purposes.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-266107), as amended, that was declared effective by the U.S. Securities and Exchange Commission (“SEC”), on August 4, 2022 and an additional registration statement filed pursuant to Rule 462(b) which became automatically effective on August 4, 2022. Copies of the accompanying prospectus relating to and describing the terms of the offering may be obtained, when available, at the SEC’s website at www.sec.gov or by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660 or by email at rothecm@roth.com.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.

About Helius Medical Technologies, Inc.

Helius Medical Technologies is a neurotech company focused on neurological wellness. The Company’s purpose is to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. The Company’s commercial product is the Portable Neuromodulation Stimulator (PoNS™). For more information, visit www.heliusmedical.com.