Nasdaq-listed firm Helius Medical Technologies Inc. unveiled the launch of a $500 million Solana-focused Digital Asset Treasury (DAT) backed by Pantera Capital and Summer Capital.
Additionally, Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital are also participating in the offering, which is expected to close on September 18, 2025.
Following the closing, the company’s management team will include Summer Capital’s founder, Joseph Chee, as Director and Executive Chairman, Pantera’s General Partner, Cosmo Jiang, as Board Observer, and Pantera Capital’s founder, Dan Morehead, as Strategic Advisor.
Notably, the company expects to build an initial SOL position, with plans to significantly scale holdings over the next 12–24 months through a best-in-class capital markets program, incorporating ATM sales and other proven strategies.
Additionally, it will evaluate staking, lending, and other opportunities throughout the ecosystem to generate revenue from the SOL Treasury, while maintaining a conservative risk profile, the company explained.
“We’d much rather start with a moderate size so that we can really go out to market and grow very quickly, rather than start too big and then have a harder time growing on a percentage basis,” he said.
He affirmed that the deal structure for this Solana treasury company positions it to be competitive: “We believe we have the right setup to be the leading, if not, at least one of the two or three, but certainly the leading, Solana DAT.”
In the press release, he also highlighted that “there is a real opportunity to drive the flywheel of creating shareholder value that Michael Saylor has pioneered with Strategy (…) by accelerating Solana adoption.”
Meanwhile, Dan Morehead affirmed that Solana is a “category-defining blockchain and the foundation on which a new financial system will be built,” adding that “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.”
