Eyenovia Raises $50 Million to Develop HYPE Crypto Reserve, Stock Price Soars 134% in One Day
US Listed Eye Drug Technology Company Eyenovia Announces $50 Million Private Placement to Purchase Hyperliquid Native Token HYPE
Eyenovia, a US-listed eye drug technology company, announced yesterday that it will privately raise $50 million to purchase Hyperliquid’s native token HYPE, becoming the first international company to include HYPE in its financial reserves. At the same time, the company will change its name to Hyperion DeFi, appoint a new Chief Investment Officer, and participate in the staking node verification program. Following the announcement, EYEN’s stock price surged 134% in a single day.
Eyenovia Embraces Hyperliquid: Recognition or Speculation?
The digital eye care technology company Eyenovia (stock code: EYEN) announced yesterday that it has completed a $50 million private investment in public equity (PIPE) to establish its first cryptocurrency reserve, locking in the hyper-growth potential of Hyperliquid’s native token HYPE, which far exceeds the company’s market capitalization of $20 million.
This transaction is limited to institutional investors, with the company issuing 15.4 million shares of convertible preferred stock and 30.8 million shares of common stock warrants, both with a conversion price and exercise price of $3.25 per share. If all warrants are subscribed, it could attract up to $150 million in additional funds.
In an effort to implement this transformation strategy, the company appointed Hyunsu Jung as the new Chief Investment Officer and board member, while also announcing that the company name and stock code will change to “Hyperion DeFi” and “HYPD.”
CEO Optimistic About Hyperliquid: Earning Passive Income from Staking HYPE
Eyenovia stated that it will use the funds to purchase over 1 million HYPE tokens, becoming one of the largest holders globally, and plans to participate in staking validation on Hyperliquid, with custody provided by Anchorage Digital. The company’s CEO Michael Rowe stated:
“This is not just an investment decision, but a significant step in our pursuit of diverse returns for shareholders and embracing the blockchain revolution.”
The new Chief Investment Officer Jung added, “We believe HYPE is one of the strongest and most promising digital assets currently available.”
In Contrast, HYPE’s Price Soars: Eyenovia’s Stock Falls 86% Over the Year
With Hyperliquid recently rising to become the 8th largest L1 by total value locked (TVL), HYPE has reached the 13th largest cryptocurrency by market capitalization, with its on-chain order book DEX trading volume and active users rapidly climbing. However, on the other hand, EYEN’s stock price does not seem to reflect the same positivity.
Even though the HYPE reserve caused EYEN’s stock price to soar 134% in a single day, the company has already seen a 40.3% drop this year and an 86.2% drop over the past year, losing 99% of its value since its IPO in 2018. Now, even if it shifts towards speculative crypto reserves, it may still face difficulties if its core business continues to incur losses.
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Despite heavy investment in the crypto space, Eyenovia emphasizes that it has not deviated from its core medical business, including the development of innovative treatment devices designed specifically for dry eye patients, such as UFD. The CEO stated that they will advance with a “dual-engine” operating model that combines medical technology and crypto investment as part of their Web3 transformation strategy, providing shareholders with more diverse value sources.
Risk Warning
Cryptocurrency investments carry a high level of risk, and prices can be highly volatile, potentially leading to the total loss of principal. Please carefully assess the risks involved.
