Eyenovia Announces $50 Million Investment to Launch a Hyperliquid (HYPE token) Cryptocurrency Treasury Reserve Strategy

Core Viewpoint - Eyenovia, Inc. has announced a $50 million private placement to acquire HYPE tokens, aiming to become a significant player in the Hyperliquid blockchain ecosystem and enhance shareholder value through cryptocurrency treasury strategy [3][5][13]. Group 1: Private Placement Details - The company has entered into a securities purchase agreement (SPA) for a $50 million private placement with institutional accredited investors [3]. - The SPA includes the issuance of non-voting convertible preferred stock convertible into approximately 15.4 million shares of common stock at a conversion price of $3.25 per share, along with warrants to purchase approximately 30.8 million shares at the same exercise price [4]. - If the warrants are fully exercised, the transaction could generate aggregate gross proceeds of approximately $150 million [4]. Group 2: Cryptocurrency Strategy - Eyenovia plans to build a reserve of HYPE tokens, which are native to the Hyperliquid blockchain, and aims to acquire over 1,000,000 HYPE tokens [5][12]. - The company intends to implement a HYPE staking program and has partnered with Anchorage Digital for asset security [5]. - This strategy positions Eyenovia as the first U.S.-based publicly listed company to hold HYPE in its treasury, enhancing its role in the blockchain ecosystem [2][5]. Group 3: Leadership Changes - Hyunsu Jung has been appointed as Chief Investment Officer and Board member, indicating a strategic shift towards cryptocurrency and blockchain investments [2][3]. - The CEO, Michael Rowe, emphasized the importance of this transaction for shareholder interests and long-term capital appreciation [5]. Group 4: Ongoing Business Focus - Alongside the cryptocurrency strategy, Eyenovia will continue to develop its Gen-2 Optejet User Filled Device (UFD), with FDA registration anticipated by September 2025 [6]. - The company is also engaged in commercial partnering discussions for the Optejet dispenser, indicating a dual focus on innovation in ophthalmic technology and blockchain [6][14]. Group 5: Future Developments - The closing of the offering is expected around June 20, 2025, with plans to change the company's name and ticker to "Hyperion DeFi" and "HYPD" respectively [7]. - A registration rights agreement has been established to facilitate the resale of shares underlying the preferred stock and warrants [8].