Hyperion DeFi Repurchases Shares and Retires Legacy Debt

Hyperion DeFi, Inc. (NASDAQ: HYPD) announced on October 2 that it had repurchased 240,124 of its common shares and retired roughly $8.6 million in legacy debt. The company, based in Dallas, bought back the shares at a weighted average price of $3.21 per share before costs and fees. The debt paydown was partially funded by sales of the $HYPE token, and the move left Hyperion DeFi with no long-term debt outstanding.

As of September 30, the company held about $14.5 million in cash, cash equivalents, and stablecoins, along with 1.85 million $HYPE tokens. The $HYPE token, native to the Hyperliquid blockchain, has been trading on major venues since its listing on Binance in September with a seed tag. The Hyperliquid network has autonomously purchased and sequestered over 47 million $HYPE tokens from trading fees, settling orders in 70-millisecond block times.

Hyperion DeFi describes itself as the first U.S.-listed DeFi company on Hyperliquid, offering shareholders exposure to $HYPE through staking yield and onchain utility revenue. The company is expanding its DeFi services, including borrowing and lending, launched earlier this year. CEO Hyunsu Jung noted that September saw raised guidance, the start of buybacks, debt paydown, and several new business announcements.

The company’s forward-looking statements, including plans to scale its onchain DeFi businesses and further optimize its capital structure, remain subject to market and regulatory risks. No timetable was provided for additional buybacks.