NEWTOWN, PA — Helius Medical Technologies, Inc. (Nasdaq: HSDT) announced it has formally changed its corporate name to Solana Company, a move the firm said reflects its long-term commitment to advancing the Solana blockchain. The rebranding was approved by the board of directors and filed with the Delaware Secretary of State. The company’s Class A common stock will continue to trade under the ticker symbol HSDT.
The company outlined a mission to “maximize SOL per share on one of the most commercially viable blockchains for consumer applications while delivering consistent on-chain yield for investors.” As part of the strategy, Solana Company has entered into an agreement with the Solana Foundation to establish collaboration and pursue joint initiatives.
A non-binding letter of intent signed with the Foundation sets terms for Solana Company to conduct all on-chain activity exclusively on Solana under the “Solana By Design” framework. The partnership will also support institutional referrals, co-hosted events, and roundtables to highlight Solana’s capabilities. Subject to conditions, the company will have the option to purchase SOL tokens from the Foundation at a discount.
The firm continues to build its digital asset treasury, supported by proceeds from a recent $500 million private investment in public equity (PIPE) financing. Management said the cash position would be used to accumulate SOL tokens in line with its strategy.
“DATs are providing access to the blockchain market to a new kind of investor. Solana Company is well set up to be the preeminent SOL DAT by introducing Solana to a growing audience,” said Dan Morehead, Founder and Managing Partner of Pantera Capital and Strategic Advisor to HSDT.
“Solana Company is a name that signifies HSDT’s commitment to building a long-lasting institution that accelerates the growth of Solana,” added Cosmo Jiang, General Partner at Pantera Capital and Board Observer at HSDT.
“HSDT’s announcements today, including a corporate name change and agreement with the Solana Foundation, showcase its long-term conviction in Solana,” said Joseph Chee, Executive Chairman of HSDT and Chairman of Summer Capital. “The clear long-term alignment is a show of support and sign of strength for the Solana Company’s mission.”
Solana remains one of the fastest-growing blockchains, processing more than 3,500 transactions per second, with 3.7 million daily active wallets and more than 23 billion transactions so far this year. The network also provides a native staking yield of roughly 7 percent, a feature the company highlighted as a key advantage over non-yield-bearing assets such as Bitcoin.
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