Helius Medical Technologies Closes C$12.5 Million Public Offering

2/16/17

NEWTOWN, Pa.--(BUSINESS WIRE)--Helius Medical Technologies, Inc. (TSX: HSM, OTCQB: HSDT) announced the closing of its previously announced public offering of 6,555,000 shares of Class A Common Stock, including 855,000 Shares issued pursuant to the exercise, in full, of the over-allotment option granted to the Underwriters in connection with the Offering. The Shares were issued at a price of C$1.90 per Share, for total gross proceeds to the Company of C$12,454,500 (US$9,518,878), before underwriting commissions and expenses payable by the Company. The Offering was underwritten by Canaccord Genuity Corp. and Raymond James Ltd. 

The Company intends to use the net proceeds of the Offering to fund investment in PoNS™ research and development, including the completion of its ongoing registrational trial in mild- to moderate-traumatic brain injury, the launch of a registrational clinical trial in multiple sclerosis and an additional clinical trial in cognition, research and development activities to complete the Company’s FDA submission and for working capital and general corporate purposes.

ABOUT THE PONSTM

The PoNS™ device is a non-invasive means for delivering neurostimulation through the tongue. The PoNS™ therapy is currently being studied in the United States and in Canada for the treatment of balance disorder for subjects with mild to moderate Traumatic Brain Injury.

ABOUT HELIUS MEDICAL TECHNOLOGIES

Helius Medical Technologies is a medical technology company focused on neurological wellness. Helius seeks to develop, license and acquire unique and non-invasive platform technologies that amplify the brain’s ability to heal itself. Helius intends to file for U.S. Food and Drug Administration clearance for the PoNS™ device. For more information, please visit www.heliusmedical.com.

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