On June 23, Eyenovia, Inc. (NASDAQ: EYEN) announced today that it has entered into a securities purchase agreement (SPA) with institutional accredited investors for a $50 million public equity private placement (PIPE). Proceeds from this financing will be used to build a HYPE token reserve. HYPE is the native token of Hyperliquid, a decentralized digital asset exchange and Layer-1 blockchain. The Company expects to receive gross proceeds of approximately $50 million before the offering costs. As part of this transaction, the Company also announced the appointment of Hyunsu Jung as Chief Investment Officer (CIO) and joins the Board of Directors. Under the terms of the SPA, the Company will issue convertible preferred stock, convertible into approximately 15.4 million shares of common stock, at a conversion price of $3.25 per share, and approximately 30.8 million warrants, also exercised at $3.25. Both the conversion of preferred shares and the exercise of warrants are subject to the maximum actual shareholding ratio set by the investor. If all warrants are exercised, the total proceeds of the transaction will be approximately $150 million (but not guaranteed).
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Public company Eyenovia announced a $50 million PIPE financing and launched the HYPE treasury reserve strategy.
On June 23, Eyenovia, Inc. (NASDAQ: EYEN) announced today that it has entered into a securities purchase agreement (SPA) with institutional accredited investors for a $50 million public equity private placement (PIPE). Proceeds from this financing will be used to build a HYPE token reserve. HYPE is the native token of Hyperliquid, a decentralized digital asset exchange and Layer-1 blockchain. The Company expects to receive gross proceeds of approximately $50 million before the offering costs. As part of this transaction, the Company also announced the appointment of Hyunsu Jung as Chief Investment Officer (CIO) and joins the Board of Directors. Under the terms of the SPA, the Company will issue convertible preferred stock, convertible into approximately 15.4 million shares of common stock, at a conversion price of $3.25 per share, and approximately 30.8 million warrants, also exercised at $3.25. Both the conversion of preferred shares and the exercise of warrants are subject to the maximum actual shareholding ratio set by the investor. If all warrants are exercised, the total proceeds of the transaction will be approximately $150 million (but not guaranteed).