[Blockchain Rhythm] On June 23, Eyenovia, Inc. (NASDAQ: EYEN) announced today that it has signed a Securities Purchase Agreement (SPA) with institutional accredited investors for a total of $50 million in a public equity private placement (PIPE). The proceeds from this financing will be used to establish a HYPE Token reserve. HYPE is the native Token of a trading platform and the Layer-1 Blockchain Hyperliquid. Before deducting issuance costs, the company expects to receive approximately $50 million in total financing proceeds.
As part of this transaction, the company also announced the appointment of Hyunsu Jung as Chief Investment Officer (CIO) and a member of the board of directors. According to the terms of the SPA, the company will issue convertible preferred shares that can be converted into approximately 15.4 million common shares at a conversion price of $3.25 per share, while also issuing approximately 30.8 million warrants with the same exercise price of $3.25. The conversion of preferred shares and the exercise of warrants are subject to limits set by investors on the actual shareholding ratio. If all warrants are exercised, the total proceeds from the transaction will reach approximately $150 million (but there is no guarantee that this will be achieved).
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
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WalletManager
· 23h ago
The current reserve scale comparison is not enough for valuation, it is far behind the previous 1inch reserves.
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BackrowObserver
· 23h ago
Hmm? Fifty million dollars to trade Token, that's ridiculous.
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CryptoNomics
· 23h ago
*sigh* classic market inefficiency at p<0.01 significance...
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CryptoComedian
· 23h ago
I got sleepy while watching. Let's stash some tokens to wake up.
Eyenovia completed a $50 million PIPE financing and will establish a HYPE Token reserve.
[Blockchain Rhythm] On June 23, Eyenovia, Inc. (NASDAQ: EYEN) announced today that it has signed a Securities Purchase Agreement (SPA) with institutional accredited investors for a total of $50 million in a public equity private placement (PIPE). The proceeds from this financing will be used to establish a HYPE Token reserve. HYPE is the native Token of a trading platform and the Layer-1 Blockchain Hyperliquid. Before deducting issuance costs, the company expects to receive approximately $50 million in total financing proceeds.
As part of this transaction, the company also announced the appointment of Hyunsu Jung as Chief Investment Officer (CIO) and a member of the board of directors. According to the terms of the SPA, the company will issue convertible preferred shares that can be converted into approximately 15.4 million common shares at a conversion price of $3.25 per share, while also issuing approximately 30.8 million warrants with the same exercise price of $3.25. The conversion of preferred shares and the exercise of warrants are subject to limits set by investors on the actual shareholding ratio. If all warrants are exercised, the total proceeds from the transaction will reach approximately $150 million (but there is no guarantee that this will be achieved).