Helio Seeks Nasdaq Listing With Proposed $8 Million to $10 Million Share Sale

Helio Corporation filed for a proposed stock sale and Nasdaq Capital Market listing Oct. 21, with preliminary terms that could raise up to $10 million before expenses for debt repayment and operations.

Helio plans to offer 2 million common shares at an estimated $4 to $5 each and has applied to trade under the ticker HLEO. That price range implies $8 million to $10 million in gross proceeds, or $9 million at the assumed $4.50 midpoint. The share count and price have not been finalized.

After estimated underwriting discounts and expenses, net proceeds would be $7.993 million at the midpoint if the underwriters buy no additional shares. R.F. Lafferty & Co., Inc. is the sole book-running manager. For 45 days after the offering closes, the underwriters would have the option to buy up to 15% more shares to cover over-allotments. Exercising that option in full would bring the sale to 2.3 million shares.

Helio intends to use the money to repay promissory notes and support research and development, sales and marketing, facilities, manufacturing, working capital and other corporate needs. The proposed sale would give the company additional funding as it pursues the listing, though neither the sale nor the listing has been completed.

Helio is a holding company with technology and engineering operations. Its wholly owned subsidiary, Heliospace Corporation, designs and tests spaceflight hardware and provides engineering services.

The company held $520,504 in cash and cash equivalents as of July 31, 2026. It recorded a $6.85 million net loss for the nine months ended that date. Audit reports for its 2024 and 2025 fiscal years each raised substantial doubt about its ability to continue as a going concern.

The shares cannot be sold until the registration statement becomes effective. A Nasdaq listing also requires approval of Helio’s application.