Helius (HSDT) Form 3: Director Discloses Warrants and RSUs

Rhea-AI Filing Summary

Chee Choon Wee filed a Form 3 reporting initial beneficial ownership in Helius Medical Technologies, Inc. (HSDT). The filing shows 6,830,402 shares of common stock held indirectly through Fusion Summer Limited, 6,830,402 stapled warrants exercisable from 09/18/2025 for 36 months at a $10.134 exercise price, and 1,109,118 restricted stock units granted 09/18/2025, each convertible into one share under the companys 2022 Equity Incentive Plan.

Positive

• Transparent disclosure of insider ownership and equity awards in accordance with Section 16 filings
• Large insider stake reported (6,830,402 shares indirectly), indicating alignment between executive leadership and shareholders
• Clear terms provided for stapled warrants (exercise price $10.134; exercisable beginning 09/18/2025 for 36 months) and RSU grant date (09/18/2025)

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Initial insider disclosure shows large indirect ownership and equity incentive awards, consistent with executive alignment.

The Form 3 documents that Chee Choon Wee is both a director and a 10% owner and reports indirect beneficial ownership of 6,830,402 common shares via Fusion Summer Limited and stapled warrants with a $10.134 exercise price exercisable beginning 09/18/2025 for 36 months. The filing also discloses 1,109,118 RSUs granted on 09/18/2025 under the 2022 Equity Incentive Plan, each representing one share upon vesting. This is a routine Section 16 disclosure that establishes transparency around insider holdings and potential future share issuance upon exercise or vesting.

Securities Analyst

TL;DR: The disclosure is informative but routine; it quantifies potential dilution and confirms executive ownership.

The report quantifies current indirect holdings and contingent instruments: 6,830,402 common shares held indirectly and stapled warrants covering the same number of shares exercisable at $10.134 starting 09/18/2025 for 36 months, plus 1,109,118 RSUs representing contingent shares. These items are important for calculating insider stake and potential future dilution, but the filing itself is a standard initial ownership statement without new operational or financial data.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Chee Choon Wee

(Last) (First) (Middle)

C/O HELIUS MEDICAL TECHNOLOGIES, INC.

642 NEWTOWN YARDLEY RD #100

(Street)

NEWTOWN PA 18940

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/18/2025

3. Issuer Name and Ticker or Trading Symbol
HELIUS MEDICAL TECHNOLOGIES, INC. [ HSDT ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
COMMON STOCK	6,830,402	I	By Fusion Summer Limited(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
STAPLED WARRANT	(2)	(2)	Common Stock	6,830,402	$10.134	I	By Fusion Summer Limited(1)
RESTRICTED STOCK UNIT AWARD	(3)	(3)	Common Stock	1,109,118	(4)	D

Explanation of Responses:

1. Summer Wisdom Holdings Limited ("Summer Wisdom") holds all ordinary shares of Fusion Summer Limited ("Fusion Summer"). Fusion Summer holds shares of the Issuer's common stock. The Reporting Person is the Controlling Shareholder of Summer Wisdom. Summer Wisdom may be deemed to be the beneficial owner of all of the common stock held by Fusion Summer. The Reporting Person, as the Controlling Shareholder of Summer Wisdom with sole power to exercise investment discretion, may be deemed to be the beneficial owner of all of the common stock held by Fusion Summer. The Reporting Person is the Issuer's Executive Chairman of its Board of Directors.

2. The Stapled Warrant may be exercised only during the period beginning September 18, 2025 (the "Issue Date") of the Warrant, and ending on 5:00 p.m., New York City time, on the date that is thirty-six (36) months after the Issue Date of the Warrant.

3. The restricted stock units (RSUs) granted on September 18, 2025, are subject to the conditions set forth in the Helius Medical Technologies, Inc. 2022 Equity Incentive Plan.

4. Each restricted stock unit represents a contingent right to receive one share of Helius Medical Technologies, Inc. Common Stock.

	/s/ Joseph Chee	09/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Chee Choon Wee report on the Form 3 for HSDT?

The Form 3 reports indirect beneficial ownership of 6,830,402 common shares via Fusion Summer Limited, 6,830,402 stapled warrants exercisable at $10.134 beginning 09/18/2025 for 36 months, and 1,109,118 RSUs granted 09/18/2025.

How is the 6,830,402 share position held according to the filing?

The filing states the shares are held indirectly by Fusion Summer Limited, which is controlled by Summer Wisdom Holdings Limited, of which the reporting person is the controlling shareholder.

When can the stapled warrants be exercised and at what price?

The stapled warrants are exercisable beginning 09/18/2025 and expire 36 months later; the exercise price is $10.134 per share.

What do the 1,109,118 restricted stock units represent?

Each restricted stock unit represents a contingent right to receive one share of Helius Medical Technologies common stock, and they were granted under the 2022 Equity Incentive Plan on 09/18/2025.

What roles does the reporting person hold at Helius Medical Technologies?

The filing identifies Chee Choon Wee as a Director, a 10% owner, and the companys Executive Chairman of the Board of Directors.