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Helius Rebrands as Solana Company With Non-Binding Solana Foundation LOI

The move formalizes a pivot to a SOL‑focused digital asset treasury funded by a $500 million PIPE.

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Overview

  • Helius filed amended incorporation documents in Delaware to change its name to Solana Company, while keeping its Nasdaq ticker HSDT.
  • The company and certain investors signed a non-binding letter of intent with the Solana Foundation that commits to conducting all on‑chain activity on Solana and outlines joint institutional and promotional initiatives.
  • The LOI includes an option, subject to conditions, for Solana Company to purchase a specified amount of SOL from the Foundation at a discount.
  • Solana Company says it is continuing to accumulate SOL using proceeds from its oversubscribed $500 million PIPE backed by investors reported to include Pantera Capital and Summer Capital.
  • Coverage reports the company holds more than 760,190 SOL and approximately $335 million in cash to advance its treasury plans, and the firm highlights Solana’s roughly 7% native staking yield as part of its strategy.