Hyperion DeFi Retires $8.6M in Debt, Repurchases 240,124 Shares

Hyperion DeFi, the first publicly listed US company building on the Hyperliquid blockchain, has repurchased 240,124 shares and retired $8.6 million in legacy debt. The company, which owns 1.85 million $HYPE tokens, used some of the funds from $HYPE token sales to pay down the debt. The debt retirement leaves Hyperion DeFi with no long-term debt outstanding.

Chief Executive Officer Hyunsu Jung thanked Avenue Capital for supporting the company's shift away from its former biotech brand, Eyenovia. The company has about $14.5 million in cash, cash equivalents, and stablecoins, and has traded over 47 million $HYPE tokens autonomously purchased and sequestered by the network from trading fees on its central limit order books.

Hyperion DeFi describes itself as the first US-listed DeFi company on Hyperliquid, offering shareholders exposure to $HYPE through staking yield and onchain utility revenue. The company did not disclose a total dollar value for the repurchase beyond the share count and average price of $3.21 per share.