Helius Medical Technologies Inc (HSDT) Reveals Reverse Stock Split Before 2020 Last Bell

Helius Medical Technologies Inc. (HSDT) traded 2.50% higher on Wednesday. At $0.42 per ‎share, the HSDT stock is down around 56.80% year to date. Currently, Helius Medical ‎Technologies Inc. (HSDT) has a market cap of $20.54 million. The average volume for HSDT ‎over the past month (560630 shares per day) is below its average volume over the past year ‎by -13.13, indicating that market participants have been less active in this stock over the ‎past several months.‎

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‎The 200-day and the 20-day major moving average of Helius Medical Technologies Inc. ‎‎(HSDT) are in a rallying mode. That said, HSDT shares are currently down -6.33% over the ‎past 30 days. The stock has moved down -56.80 over the trailing 12 months, falling behind ‎the rest of the market by 264.57%.‎

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A 1-for-35 reverse split of the Class A common shares, par value $0.001, was revealed by ‎Helius Medical Technologies Inc (Nasdaq: HSDT), effective today at 5:00 pm Eastern time. ‎The Company’s common stock will trade on a split-adjusted basis on the Nasdaq Share ‎Market and the Toronto Stock Exchange as of January 4, 2021.‎

The reverse stock split will reduce the number of shares of common stock outstanding and ‎issuable upon conversion of outstanding stock options and warrants. It will cause a ‎proportionate increase in the exercise and conversion prices of such stock options and ‎warrants its effectiveness. To comply with the Nasdaq Stock Market’s continued listing ‎requirements, the Company will combine, convert, and change each outstanding share of 35 ‎shares into one Common Stock share. ‎

If a fraction of a share of Common Stock is created due to the Reverse Stock Split, it will be ‎rounded down to the nearest whole share. The Company will pay the fractional share’s ‎market value to the stockholder, which is determined by multiplying the fraction by the ‎closing share price of the common stock. On the last day of trading before the Reverse ‎Stock Split became effective (on a split-adjusted basis), as reported on Nasdaq.‎‎

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‎The authorized share ‎count for the common stock of the Company will remain at 150 million, while the ‎outstanding share count will be reduced from approximately 51.9 million to about 1.5 ‎million. The Company will continue to trade its common stock under the symbol “HSDT” on ‎the Nasdaq Capital Market and HSM on the Toronto Stock Exchange. After the reverse split ‎of the common stock, the new CUSIP number is 42328V 603.

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