Ophthalmology company Eyenovia raised 50 million dollars to create a HYPE encryption reserve, with the stock price increasing by 134% in a single day.

The US-listed ophthalmic technology company Eyenovia announced yesterday that it will conduct a private sale of $50 million to purchase the Hyperliquid native Token HYPE, becoming the first international company to incorporate HYPE into its financial reserves. At the same time, the company will be renamed Hyperion DeFi, appoint a new Chief Investment Officer, and participate in a stake node validation program. Following the news, EYEN's stock price surged 134% in a single day.

Eyenovia embraces Hyperliquid, is it recognition or hype?

Ophthalmic digital technology company Eyenovia ( stock code: EYEN) announced yesterday that it has completed a $50 million private sale ( PIPE), which will be used to establish its first cryptocurrency reserve, targeting the high growth potential Hyperliquid native Token HYPE, even far exceeding the company's market value of $20 million.

This transaction is limited to institutional investors. The company will issue 15.4 million convertible preferred shares and 30.8 million common stock warrants, with both the conversion price and exercise price set at $3.25 per share. If all warrants are fully subscribed, it could attract up to $150 million in additional funding.

In order to implement the transformation strategy, the company has appointed Hyunsu Jung as the new Chief Investment Officer and a member of the board, while simultaneously announcing that the company name and stock code will be changed to "Hyperion DeFi" and "HYPD."

(VanEck exposes concerns about the discount of Bitcoin reserve companies: issuing new shares will only dilute shareholder value faster)

CEO optimistic about Hyperliquid: stake HYPE for passive income flow

Eyenovia stated that it will use the funds to purchase over 1 million HYPE, becoming one of the largest holders in the world, and plans to participate in staking validation on Hyperliquid, entrusted to Anchorage Digital for custody. The company's CEO Michael Rowe stated:

This is not just an investment decision, but a significant step we take for our shareholders to seek diversified returns and embrace the blockchain revolution.

Newly appointed Chief Investment Officer Jung also added: "We believe HYPE is one of the strongest and most promising digital assets currently."

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In contrast, HYPE coin price skyrockets: Eyenovia stock price has dropped 86% over the year.

With Hyperliquid recently rising to become the 8th largest L1 by global TVL and HYPE reaching the 13th largest cryptocurrency by market cap, its on-chain order book DEX trading volume and active users continue to rapidly increase. However, on the other hand, EYEN's stock price doesn't seem to be looking so good.

Even though the HYPE reserves caused EYEN's stock price to soar 134% in a single day, the company has already dropped 40.3% this year and 86.2% within a year, losing 99% of its value since its listing in 2018. Now, even if it turns to speculative hype around crypto reserves, if its own business continues to incur losses, it is likely to be beyond saving.

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The original business continues to advance, Eyenovia builds a dual-engine growth model.

Eyenovia emphasizes that even with significant investments in the crypto space, it has not deviated from its core medical business, including the development of innovative treatment devices like UFD specifically designed for patients with dry eye syndrome. The CEO stated that the company will robustly advance its "dual-engine" operating model that combines medical technology with crypto investment, as part of its strategy for Web3 transformation, to provide shareholders with richer sources of value.

This article reports that the ophthalmology company Eyenovia raised $50 million to create a HYPE crypto reserve, with the stock price increasing by 134% in a single day, first appearing in Chain News ABMedia.