[8-K] Helius Medical Technologies, Inc. Reports Material Event

Rhea-AI Filing Summary

On July 7, 2025, Helius Medical Technologies, Inc. (NASDAQ: HSDT) received formal notice from The Nasdaq Stock Market LLC confirming that it has regained compliance with Nasdaq Listing Rule 5550(b)(1), which requires minimum stockholders’ equity of $2.5 million. The company had already restored compliance with the minimum bid-price rule 5550(a)(2) on June 3, 2025. As a result, Helius now meets all criteria necessary to maintain its listing on the Nasdaq Capital Market.

Under Nasdaq Listing Rule 5815(d)(4)(B), HSDT will be subject to a Mandatory Panel Monitor until July 7, 2026. If the company falls out of equity compliance during this one-year period, it will receive an immediate delist determination without the usual cure period, although it may request a new hearing.

No additional financial results, transactions, or operational updates were provided in this Form 8-K.

Positive

• Regained compliance with Nasdaq’s $2.5 million stockholders’ equity requirement, securing continued listing
• Previously restored compliance with minimum bid-price rule, fully meeting Nasdaq Capital Market standards

Negative

• Company placed under one-year Mandatory Panel Monitor; any future equity shortfall will prompt immediate delisting proceedings
• Filing does not disclose the exact stockholders’ equity figure, limiting visibility into compliance buffer

Insights

Financial Analyst

TL;DR: Listing compliance restored; delisting risk deferred but one-year probation increases vigilance.

Helius’s confirmation of equity compliance removes an immediate overhang that threatened liquidity and institutional ownership constraints. Regaining both the equity and bid-price standards keeps the shares tradable on Nasdaq, a net positive for market perception and access to capital. However, the Mandatory Panel Monitor until July 2026 means any dip below the $2.5 million equity threshold will trigger a delist determination with no grace period, underscoring the company’s limited margin for error. Investors should monitor forthcoming balance-sheet disclosures to ensure equity remains comfortably above the floor. Overall impact is positive, but sustainability of compliance remains a key risk factor.

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​​UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 8-KCURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934Date of Report (Date of earliest event reported): July 7, 2025HELIUS MEDICAL TECHNOLOGIES, INC.(Exact name of registrant as specified in its charter)

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Delaware	001-38445	36-4787690
(State or other jurisdictionof incorporation)	(Commission File Number)	(IRS EmployerIdentification No.)
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642 Newtown Yardley Road, Suite 100Newtown, PA		18940
(Address of principal executive offices)		(Zip Code)

​Registrant’s telephone number, including area code: (215) 944-6100N/A(Former name or former address, if changed since last report)Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:​

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☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

​Securities registered pursuant to Section 12(b) of the Act:​

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Title of each class		TradingSymbol(s)		Name of each exchange on which registered
Class A Common Stock, $0.001 par value	​	HSDT	​	The Nasdaq Stock Market LLC

​Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).Emerging growth company ☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐​​

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​​​​​Item 8.01Other Events.​On July 7, 2025, Helius Medical Technologies, Inc. (the “Company”) received formal notification (the “Notification”) from The Nasdaq Stock Market LLC (“Nasdaq”) that 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 (the “Equity Requirement”).​As previously disclosed, following a hearing with the Nasdaq Hearing Panel (the “Panel”) on March 18, 2025, on April 1, 2025, the Company received a decision letter from the Panel, granting the Company’s request to continue its listing on Nasdaq, subject demonstrating compliance with both the minimum bid price requirement, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) and the Equity Requirement prior to June 30, 2025. On June 3, 2025, the Company received formal notification from Nasdaq confirming that the Company had regained compliance with the Minimum Bid Price Requirement. Consequently, following receipt of the Notification, the Company is now in compliance with all applicable criteria for continued listing on The Nasdaq Capital Market.​Pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a Mandatory Panel Monitor until July 7, 2026. If, within that one-year monitoring period, the Nasdaq Listing Qualifications staff (the “Staff”) finds the Company again out of compliance with the Equity Requirement, notwithstanding Nasdaq Listing Rule 5810(c)(2), the Company would not be permitted to provide the Staff with a plan of compliance with respect to that deficiency and the Staff would not be permitted to grant additional time for the Company to regain compliance with respect to that deficiency, nor would the Company be afforded an applicable cure or compliance period pursuant to Nasdaq Listing Rule 5810(c)(3). Instead, the Staff would issue a “Delist Determination Letter” and the Company would have an opportunity to request a new hearing with the initial Panel or a newly convened Hearings Panel if the initial Panel is unavailable.​​​​​​​

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SIGNATUREPursuant 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.​

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​	​	HELIUS MEDICAL TECHNOLOGIES, INC.
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Dated: July 9, 2025	​	By:	/s/ Jeffrey S. Mathiesen
​	​	​	Jeffrey S. Mathiesen
​	​	​	Chief Financial Officer, Treasurer and Secretary

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FAQ

What did Helius Medical Technologies (HSDT) announce on July 7, 2025?

The company received confirmation from Nasdaq that it has regained compliance with the $2.5 million stockholders’ equity requirement.

Which Nasdaq rules has HSDT now satisfied?

It meets Listing Rule 5550(b)(1) for equity and had previously met Rule 5550(a)(2) for minimum bid price.

How long will HSDT be monitored by Nasdaq?

The company will be under a Mandatory Panel Monitor until July 7, 2026.

What happens if HSDT falls below the equity requirement during the monitor period?

Nasdaq will issue an immediate delist determination letter without a cure period, though HSDT can request a hearing.

Does this 8-K include any earnings or financial results?

No. The filing only addresses Nasdaq listing compliance; no earnings or other financial data were provided.