Eyenovia (EYEN), a digital ophthalmic medical know-how firm, has develop into the primary publicly listed US agency to create a Hyperliquid (HYPE) reserve. The corporate revealed plans to take a position $50 million to fund its HYPE treasury technique.
Moreover, Eyenovia will endure a rebranding to Hyperion DeFi, with its inventory ticker transitioning from EYEN to HYPD, anticipated round June 20. Regardless of this shift, Eyenovia stays dedicated to its core enterprise, which can now run parallel to the HYPE treasury.
Hyperliquid (HYPE) Good points Traction because the New Institutional Favourite
In its newest press launch, Eyenovia introduced that it’s elevating funds by a PIPE financing deal underneath a securities buy settlement with institutional accredited buyers. The financing entails issuing non-voting convertible preferred stock, convertible into roughly 15.4 million shares of frequent inventory at $3.25 per share.
The agency can even difficulty warrants to buy as much as 30.8 million shares on the similar train value. The potential proceeds might attain $150 million if all warrants are exercised. Nevertheless, this final result is unsure.
“The closing of the providing is anticipated to happen on or about June 20, 2025, topic to the satisfaction of customary closing circumstances, with the Firm additionally anticipated to vary its identify and ticker to ‘Hyperion DeFi’ and ‘HYPD’, respectively,” the press launch read.
The funding will assist the corporate develop into one of many main world validators for Hyperliquid by facilitating the acquisition of over 1,000,000 HYPE tokens. It additionally plans to launch a HYPE staking program.
This initiative helps the corporate’s long-term purpose of offering worth for shareholders by capitalizing on the worldwide development of blockchain know-how and digital innovation. To steer the HYPE treasury strategy, the medical know-how agency has appointed Hyunsu Jung as its chief funding officer and board member.
Eyenovia now joins a number of different firms diversifying past Bitcoin (BTC) and Ethereum (ETH) to undertake a broader vary of altcoins, including XRP (XRP), Solana (SOL), Artificial Superintelligence Alliance (FET), and Bittensor (TAO).
“We’re happy to hitch the rising variety of firms who’ve adopted comparable methods for the diversification, liquidity and long-term capital appreciation potential that cryptocurrency represents. Following an intensive evaluate of all out there alternate options, the Board and I’ve concluded that this transaction is in one of the best pursuits of our shareholders,” Eyenovia’s CEO, Michael Rowe, stated.
The strategic pivot proved favorable for Eyenovia’s inventory. On the market shut, the worth was up 134.6%, reflecting robust investor confidence. Nonetheless, in after-hours buying and selling, EYEN’s value dipped by 7.7%.
In the meantime, HYPE didn’t appear to be impacted by the information. BeInCrypto reported that the DeFi token hit an all-time excessive yesterday.
Nevertheless, the worth has since dropped. On the time of writing, HYPE was buying and selling at $41, down 3.5% over the previous day.
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