Helius Medical Technologies, Inc. Announces Pricing of $6.4 Million Public Offering

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NEWTOWN, Pa., May 6, 2024 (GLOBE NEWSWIRE) — Helius Medical Technologies, Inc. (Nasdaq: HSDT) (“Helius” or the “Company”), a neurotechnology company focused on providing a novel therapeutic neuromodulation approach to balance and Health Focused Gait Deficits today announced the pricing of a public offering of 804,999 shares of its Class A common stock (“Common Stock”) and 2,047,222 pre-funded warrants, each to purchase one common share, together with the associated Series A and B purchase warrants a total of up to 5,704,442 common shares. The public offering price per share of common stock and the associated Series A and B warrants is $2.25 and the public offering price per prefunded warrant and the associated Series A and B warrants is $2.249, resulting in gross proceeds, before deductions, of approximately $6.4 million includes placement agent fees and other estimated offering costs. The Series A warrants to purchase up to an aggregate of 2,852,221 shares of common stock have an exercise price of $2.25 per share, are exercisable immediately after the issuance date and expire five years after the original issuance date. The Series B warrants to purchase up to an aggregate of 2,852,221 shares of common stock have an exercise price of $2.25 per share, are exercisable immediately after the issuance date and expire twelve months after the original issuance date.

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The offering is expected to close on or about May 9, 2024, subject to customary closing conditions. The Company intends to use the net proceeds from this offering for financing operations, working capital and other general corporate purposes.

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Craig-Hallum Capital Group LLC is acting as sole placement agent for the offering.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-278698), as amended, which was declared effective on May 6 by the Securities and Exchange Commission (“SEC”) . 2024. Copies of the accompanying prospectus relating to and describing the terms of the offering may be obtained, when available, on the SEC’s website at www.sec.gov or by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street , Suite 350, Minneapolis, MN 55402, Attn: Equity Capital Markets, by telephone at (612) 334-6300 or by email at [email protected].

This press release 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 would be prior to registration or qualification under the securities laws of any such state or other jurisdiction. An offering will be made, if at all, only by means of a prospectus, including a prospectus supplement, which forms part of the effective registration statement.

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About Helius Medical Technologies, Inc.

Helius Medical Technologies is a leading neurotech medical device company focused on neurological deficits, leveraging an oral technology platform designed to enhance the brain’s ability to activate physiological compensatory mechanisms and promote neuroplasticity, thereby enhancing life improved by people with neurological diseases. The company’s first commercial product is the wearable neuromodulation stimulator. Further information about PoNS® or Helius Medical Technologies can be found at www.heliusmedical.com.

Forward-Looking Statements

Certain statements in this press release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws. Any statements contained in this press release that are not historical facts: These are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are often identified by words such as “believe,” “continue,” “intend,” “expect,” “will,” “goal,” “seek” and similar expressions. Such forward-looking statements include, but are not limited to, statements regarding the Company’s anticipated completion of the public offering and the anticipated use of proceeds therefrom.

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There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those expressed or implied by such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include risks and uncertainties relating to market and other conditions, the satisfaction of customary closing conditions in connection with the proposed public offering and the effects more generally economic, industry or political conditions in the region, U.S. or international risks, and other risks described under the heading “Risk Factors” in our filings with the Securities and Exchange Commission and Canadian securities regulators, which can be found either at www.sec. gov or www.sedar.com.

The reader is cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release and the Company undertakes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from such statements, except as required by law.

Investor Relations Contact:

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: [email protected]

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