LAGUNA HILLS, CA – June 17, 2025 – In a bold move that’s sending ripples through the market, Eyenovia, Inc. (NASDAQ: EYEN) today announced an innovative pivot, positioning itself at the vanguard of the digital asset space. The company has locked in a $50 million private placement, with the strategic aim of building a significant treasury of HYPE, the native token of the Hyperliquid decentralized exchange and Layer-1 blockchain. This marks Eyenovia as the first U.S.-based publicly listed company to embrace a substantial HYPE holding.
The funding, secured via a securities purchase agreement with institutional accredited investors, will be used to acquire over 1,000,000 HYPE tokens. This positions Eyenovia to become a top-tier validator on the Hyperliquid network, a significant feat for a company listed on Nasdaq. The deal includes the issuance of non-voting convertible preferred stock, convertible into approximately 15.4 million shares of common stock at $3.25 per share, alongside warrants to purchase roughly 30.8 million shares of common stock, also at an exercise price of $3.25. Full exercise of the warrants has the potential to generate an additional $150 million, although that is not guaranteed.
Simultaneously, Eyenovia is welcoming Hyunsu Jung to the team as Chief Investment Officer and a board member. Mr. Jung will be instrumental in spearheading this pioneering cryptocurrency treasury strategy.
“We are pleased to join the growing number of companies who have adopted similar strategies for the diversification, liquidity and long-term capital appreciation potential that cryptocurrency represents,” stated Michael Rowe, Eyenovia’s CEO. “Following a thorough review of all available alternatives, the Board and I have concluded that this transaction is in the best interests of our shareholders.”
Mr. Jung added, “I am honored and excited to join the Eyenovia team to help lead this pioneering cryptocurrency treasury strategy built around what we believe to be the most robust digital asset, HYPE. We view Hyperliquid as one of the fastest growing, highest-revenue generating blockchains in the world.”
The company is also planning to institute a HYPE staking program, safeguarding these assets through a partnership with Anchorage Digital. This strategy is intended to capitalize on the expanding global adoption of blockchain and digital innovation, aiming to drive long-term shareholder value.
While diving into the digital asset landscape, Eyenovia is not taking its eye off its core business. The company will continue development of the Gen-2 Optejet User Filled Device (UFD), with FDA registration expected by September 2025. Commercial partnerships for the Optejet dispenser remain a priority.
The closing of the offering is targeted for June 20, 2025, subject to customary closing conditions, with plans to change the company’s name and ticker to Hyperion DeFi and HYPD, respectively.
**A Deeper Dive into HYPE**
HYPE, the utility token of the Hyperliquid layer one blockchain (L1), facilitates trading on the network’s spot and futures markets. Staking HYPE provides access to trading fee discounts, with potential future rewards in the form of referral bonuses and builder-deployed markets. The native token is autonomously repurchased using network trading fees. As of June 2025, HYPE ranks as the 12th-largest cryptocurrency by market capitalization.
Eyenovia, the driving force behind this initiative, is simultaneously at the forefront of ophthalmic technology. The company’s dual strategy is designed to provide shareholders exposure to the Hyperliquid ecosystem alongside advancement in topical eye treatments.
*Important Note: This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities.*
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