news 
Title: Nasdaq Company Makes Crypto Pivot With $50M HYPE Token Reserve
In a surprising yet bold move, Nasdaq-listed Eyenovia has announced its commitment to diversify and expand its portfolio by allocating up to $50 million towards a reserve of Hyperliquid (HYPE) tokens. This massive allocation marks a significant shift in the company’s strategy, as it seeks to become the first publicly traded entity to adopt this treasury approach.
Eyenovia intends to finance the acquisition of HYPE tokens through issuing convertible preferred stock and warrants under a securities purchase agreement. The deal also includes options for the potential purchase of an additional 30.8 million shares at $3.25 each, bringing the total value of the transaction to as much as $150 million.
The company will utilize a portion of these funds to acquire approximately 1 million HYPE tokens, which would place it among the most prominent validators on the Hyperliquid network. Eyenovia’s CEO Michael Rowe expressed confidence in this plan, stating that the decision is made to diversify and enhance its liquidity as well as explore long-term capital appreciation potential presented by cryptocurrency.
In a separate development, Eyenovia has decided to rebrand itself under the name Hyperion DeFi and will change its Nasdaq ticker symbol from EYEN to HYPD. Despite this significant identity shift, the company plans to maintain its core business of developing ophthalmic delivery technology.
Source: www.crypto-news-flash.com
