Helius Medical Technologies Merges with Thorne HealthTech
Ticker: HSDT · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1610853
| Field | Detail |
|---|---|
| Company | Helius Medical Technologies, Inc. (HSDT) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $2.5 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: merger, acquisition, name-change
Related Tickers: THRN
TL;DR
Helius is now Thorne HealthTech after merger, ticker THRN.
AI Summary
On May 31, 2024, Helius Medical Technologies, Inc. announced the closing of its previously disclosed merger with Thorne HealthTech, Inc. The transaction was approved by Helius shareholders on May 29, 2024. As a result of the merger, Helius Medical Technologies, Inc. will change its name to Thorne HealthTech, Inc. and will trade under the ticker symbol THRN.
Why It Matters
This merger signifies a significant strategic shift for Helius Medical Technologies, potentially impacting its future product development and market position under the new Thorne HealthTech identity.
Risk Assessment
Risk Level: medium — Mergers and acquisitions inherently carry integration risks, market reception uncertainties, and potential changes in strategic direction.
Key Players & Entities
- Helius Medical Technologies, Inc. (company) — Registrant
- Thorne HealthTech, Inc. (company) — Acquiring entity
- May 31, 2024 (date) — Closing date of merger
- May 29, 2024 (date) — Shareholder approval date
- THRN (ticker) — New ticker symbol
FAQ
What was the effective date of the merger between Helius Medical Technologies, Inc. and Thorne HealthTech, Inc.?
The merger closed on May 31, 2024.
When did Helius Medical Technologies, Inc. shareholders approve the merger?
Helius shareholders approved the transaction on May 29, 2024.
What will be the new name of Helius Medical Technologies, Inc. after the merger?
The company will change its name to Thorne HealthTech, Inc.
What is the new ticker symbol for the combined company?
The combined company will trade under the ticker symbol THRN.
What is the primary business of Thorne HealthTech, Inc.?
The filing does not explicitly detail Thorne HealthTech's primary business, but the context of the merger suggests a focus on health technology.
Filing Stats: 455 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-06-03 16:15:19
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 par value HSDT The Nasdaq Stock Mar
- $2.5 m — intain stockholders' equity of at least $2.5 million, and that the Company satisfies a
Filing Documents
- hsdt-20240531x8k.htm (8-K) — 36KB
- hsdt-20240531x8k001.jpg (GRAPHIC) — 7KB
- 0001558370-24-008863.txt ( ) — 171KB
- hsdt-20240531.xsd (EX-101.SCH) — 3KB
- hsdt-20240531_lab.xml (EX-101.LAB) — 16KB
- hsdt-20240531_pre.xml (EX-101.PRE) — 10KB
- hsdt-20240531x8k_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On May 31, 2024, Helius Medical Technologies, Inc. (the "Company" ) received formal notification from The Nasdaq Stock Market LLC ("Nasdaq" ) confirming that, following the consummation of a previously disclosed financing consummated on May 9, 2024, the Company has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires issuers listed on The Nasdaq Capital Market to maintain stockholders' equity of at least $2.5 million, and that the Company satisfies all other applicable criteria for continued listing on The Nasdaq Capital Market. As a result of the determination, the listing matter is now closed. 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: June 3, 2024 By: /s/ Jeffrey S. Mathiesen Jeffrey S. Mathiesen Chief Financial Officer, Treasurer and Secretary 3