Helius Medical raises $3.7M through warrant exercise inducement, issues new warrants for up to 6.2M shares

Solana Co

Aggregate gross proceeds of ~$3.7M from cash exercise of 4,971,110 existing warrants at reduced price of $0.751/share.
In exchange, issued new Series C & D warrants to purchase up to 6,213,888 shares, exercisable upon stockholder approval.
Series C (3,728,333 shares) exercisable for 5 years after approval; Series D (2,485,555 shares) for 2 years after approval.
Company agreed to file resale registration statement for underlying shares and to hold stockholder meeting within 90 days.
Roth Capital Partners acted as financial advisor; fee of $0.2M plus expense reimbursement.

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