Helius Medical Technologies, Inc. (HSDT), a neurotech company developing therapeutic solutions for balance and gait deficits, is implementing a 1-for-15 reverse stock split, effective May 1, 2025, as part of its strategy to maintain compliance with Nasdaq listing requirements.
The reverse split, approved by shareholders at the company's annual meeting on April 21, 2025, was formally set by the Board of Directors to consolidate every 15 shares of Class A common stock into 1 share, without altering the total number of authorized shares or the $0.001 par value.
Starting May 2, 2025, Helius shares will trade on a split-adjusted basis under the same Nasdaq ticker "HSDT" but with a new CUSIP number (42328V 884).
The reverse split will reduce the total outstanding shares from approximately 7.9 million to about 0.5 million, and proportionally increase the conversion and exercise prices of all outstanding stock options and warrants.
Fractional shares will be rounded down, with shareholders receiving cash based on the May 1 closing price for any remaining fraction.
Helius develops non-invasive neuromodulation devices, including its commercial product, PoNS or Portable Neuromodulation Stimulator, which aims to improve neurologic function by promoting neuroplasticity through stimulation of the tongue.
Currently, HSDT is trading at $0.23 down by 16.83 percent on the Nasdaq.
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