Eyenovia Announces Private Placement to Hold HYPE in Treasury
Eyenovia, Inc. (NASDAQ: EYEN) has revealed its plans to engage in a private placement of $50 million in public equity, a move that positions the company to become the first publicly traded entity in the U.S. to hold HYPE, a token associated with the Hyperliquid blockchain. The announcement was made on June 17, 2025, stating that the funds raised through this securities purchase agreement with accredited institutional investors will be allocated to establishing a reserve of HYPE. The company anticipates gross proceeds of around $50 million, prior to any expenses related to the offering.
Appointment of Chief Investment Officer
Alongside the financing announcement, Eyenovia has appointed Hyunsu Jung as its Chief Investment Officer and a member of the Board of Directors. As part of the financing arrangement, the company plans to issue non-voting convertible preferred stock that can be converted into approximately 15.4 million shares of common stock at a rate of $3.25 per share. Additionally, warrants for the purchase of around 30.8 million shares at the same price are included. The conversion and exercise of these securities will be limited by ownership constraints defined by the investors.
CEO’s Statement on Cryptocurrency Strategy
Michael Rowe, the CEO of Eyenovia, expressed enthusiasm about joining the trend of companies diversifying their assets through cryptocurrency, highlighting the liquidity and long-term growth potential that such investments can yield. He stated that after careful consideration of all available options, the Board concluded that this private placement is in the best interest of shareholders. Jung also expressed his excitement about leading a groundbreaking strategy centered on HYPE, which he believes to be a leading digital asset within the rapidly expanding blockchain sector.
Strategic Goals and HYPE Acquisition
The private placement will allow Eyenovia to acquire over one million HYPE tokens, establishing itself as a significant validator on the Hyperliquid network and the first of its kind to be publicly listed on Nasdaq. Additionally, the company plans to initiate a HYPE staking program while safeguarding these assets through a partnership with Anchorage Digital. This move aligns with Eyenovia’s goal to create sustainable shareholder value by leveraging the growing acceptance of blockchain technology.
Continuing Business Operations Alongside New Strategy
While implementing this innovative cryptocurrency treasury strategy, Eyenovia will maintain focus on its existing operations, including the development of its Gen-2 Optejet User Filled Device (UFD), which the company aims to register with the FDA by September 2025. The company is also actively pursuing partnership opportunities related to the Optejet dispenser. The closing of the offering is anticipated around June 20, 2025, subject to standard closing conditions, and the company is expected to rebrand as “Hyperion DeFi” with the ticker symbol “HYPD.”
Details of the Securities Offering
Chardan is acting as the exclusive placement agent for this transaction. The securities involved in the offering are not being registered under the Securities Act of 1933 and cannot be resold in the U.S. unless they are part of an effective registration statement or fall under a valid exemption. Concurrently with the agreement, Eyenovia has committed to filing a registration statement with the SEC for the resale of common stock linked to the preferred stock and warrants.
Inducement Grant for New Chief Investment Officer
In relation to his joining the company, Mr. Jung has been granted 500,000 shares of common stock as an inducement, approved by Eyenovia’s Compensation Committee in accordance with Nasdaq Listing Rule 5635(c)(4).
Understanding the HYPE Token
HYPE is the native cryptocurrency of the Hyperliquid Layer-1 blockchain, designed for validators engaged in the network’s specialized consensus mechanism, HyperBFT. This technology enhances order book functionality, allowing for secure on-chain trading of both spot and futures markets. Staking HYPE provides users with trading fee discounts and lays the groundwork for future bonuses and market opportunities. As of June 2025, HYPE ranks as the twelfth-largest cryptocurrency by market cap.
About Eyenovia, Inc.
Eyenovia, Inc. is a groundbreaking company in digital ophthalmic technology, notable for being the first publicly traded firm in the U.S. to establish a long-term treasury of HYPE tokens. The company is dedicated to advancing topical eye treatments while simultaneously providing shareholders with streamlined access to the expanding Hyperliquid ecosystem, recognized for its rapid growth and high revenue generation. Shareholders stand to gain from both the staking yields of HYPE and additional revenue streams available through blockchain opportunities. Eyenovia is also developing its proprietary Optejet User Filled Device (UFD) for various topical ophthalmic liquids, targeting significant market potential and improving patient compliance and outcomes.
Forward-Looking Statements
This press release contains forward-looking statements that include intentions, beliefs, expectations, and predictions regarding future operations and financial performance. These statements reflect current expectations based on management’s assumptions and are not guaranteed outcomes. Various risks and uncertainties may cause actual results to differ significantly from projections provided. Eyenovia does not undertake any obligation to update these forward-looking statements, except as required by applicable securities laws.
