03:27 PM EDT, 06/17/2025 (MT Newswires) -- Eyenovia ( EYEN ) shares jumped 114% in recent Tuesday trading after it entered an agreement with institutional investors for a $50 million private placement in public equity financing.

The company said it will use the gross proceeds to create a HYPE cryptocurrency token reserve, according to a statement.

Under the purchase agreement, the company will offer preferred stock convertible into 15.4 million common shares at a conversion price of $3.25 apiece and warrants to buy 30.8 million common shares at a $3.25 exercise price. Gross proceeds are expected at $150 million if warrants are fully exercised, the company said.

The financing will allow the company to buy over 1 million HYPE tokens. It also plans a HYPE staking program by securing the assets through a collaboration with Anchorage Digital.

Eyenovia ( EYEN ) said it also named Hyunsu Jung as its chief investment officer and board member. The company also expects to change its name to "Hyperion DeFi" and ticker to "HYPD."

Price: 6.61, Change: +3.64, Percent Change: +122.56