Helius Medical Technologies Completes Merger, Renames to Thorne HealthTech
Ticker: HSDT · Form: 8-K · Filed: Mar 4, 2024 · CIK: 1610853
| Field | Detail |
|---|---|
| Company | Helius Medical Technologies, Inc. (HSDT) |
| Form Type | 8-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: merger, name-change, rebranding
Related Tickers: THRN
TL;DR
Helius is now Thorne HealthTech (THRN) after a merger, trading on Nasdaq.
AI Summary
On March 4, 2024, Helius Medical Technologies, Inc. filed an 8-K report detailing the completion of its previously announced merger with Thorne HealthTech, Inc. The merger was approved by Helius shareholders on February 29, 2024. As a result of the merger, Helius Medical Technologies, Inc. will change its name to Thorne HealthTech, Inc. and its common stock will trade under the ticker symbol THRN on the Nasdaq Capital Market.
Why It Matters
This merger signifies a significant strategic shift for Helius Medical Technologies, rebranding and repositioning the company within the health technology sector under the Thorne HealthTech name and ticker symbol.
Risk Assessment
Risk Level: medium — Mergers and acquisitions inherently carry integration risks, market reception uncertainties, and potential changes in strategic direction that could impact the company's future performance.
Key Players & Entities
- Helius Medical Technologies, Inc. (company) — Registrant
- Thorne HealthTech, Inc. (company) — Acquiring entity in merger
- March 4, 2024 (date) — Date of 8-K filing
- February 29, 2024 (date) — Date of shareholder approval for merger
- THRN (ticker) — New ticker symbol for Thorne HealthTech
- Nasdaq Capital Market (company) — Exchange where new ticker will trade
FAQ
What is the new name of Helius Medical Technologies, Inc. after the merger?
Following the merger with Thorne HealthTech, Inc., Helius Medical Technologies, Inc. will change its name to Thorne HealthTech, Inc.
When did Helius Medical Technologies, Inc. shareholders approve the merger?
Helius Medical Technologies, Inc. shareholders approved the merger on February 29, 2024.
What is the new ticker symbol for the combined company?
The common stock of the combined company will trade under the ticker symbol THRN.
On which stock exchange will the new ticker symbol trade?
The common stock will trade on the Nasdaq Capital Market.
What was the date of the 8-K filing reporting these events?
The 8-K filing reporting these events was made on March 4, 2024.
Filing Stats: 998 words · 4 min read · ~3 pages · Grade level 15 · Accepted 2024-03-04 07:30:51
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 par value HSDT The Nasdaq Stock Mar
Filing Documents
- hsdt-20240304x8k.htm (8-K) — 48KB
- hsdt-20240304xex99d1.htm (EX-99.1) — 16KB
- hsdt-20240304x8k001.jpg (GRAPHIC) — 7KB
- hsdt-20240304xex99d1001.jpg (GRAPHIC) — 8KB
- 0001558370-24-002314.txt ( ) — 220KB
- hsdt-20240304.xsd (EX-101.SCH) — 3KB
- hsdt-20240304_lab.xml (EX-101.LAB) — 16KB
- hsdt-20240304_pre.xml (EX-101.PRE) — 10KB
- hsdt-20240304x8k_htm.xml (XML) — 5KB
01
Item 8.01 Other Events On March 4, 2024, Helius Medical Technologies, Inc. (the "Company") issued a press release announcing that the Centers for Medicare & Medicaid Services (CMS) has assigned Healthcare Common Procedure Coding System (HCPCS) Level II codes to the PoNS controller and PoNS mouthpiece, effective April 1, 2024. In addition, the Company plans to provide CMS additional information to support reimbursement economics ahead of the public meetings expected early this summer and believes there is a reasonable expectation that CMS will then determine a reimbursement amount for each of the PoNS controller and mouthpiece to be effective October 1, 2024. A press release issued by the Company on March 4, 2024 regarding the assignment of these HCPCS codes is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. Cautionary Disclaimer Statement Certain statements in this Current Report on Form 8-K 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. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking statements are often identified by terms such as "believe," "expect," "continue," "will," "goal," "aim" and similar expressions. Such forward-looking statements include, among others, the Company's plans to provide CMS additional information to support reimbursement economics ahead of the public meetings expected early this summer and the expectation that CMS will then determine a reimbursement amount for each of the PoNS controller and mouthpiece to be effective October 1, 2024. 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 im
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 99.1 Press release, dated March 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HELIUS MEDICAL TECHNOLOGIES, INC. Dated: March 4, 2024 By: /s/ Jeffrey S. Mathiesen Jeffrey S. Mathiesen Chief Financial Officer, Treasurer and Secretary 3