Buyback and debt payoff
Hyperion DeFi, Inc. (NASDAQ: HYPD) said on October 2 that it repurchased 240,124 HYPD shares and retired about $8.6 million in legacy debt. The Dallas-based company is the first publicly listed U.S. business building on the Hyperliquid blockchain. The paydown was partially funded by sales of $HYPE tokens, according to an SEC filing.
The company bought the shares at a weighted average price of $3.21 each, before costs and fees. It also repaid all outstanding principal and interest under its loan agreement with Avenue Capital. After that, Hyperion DeFi has no long-term debt outstanding.
CEO Hyunsu Jung said September included raised guidance, the start of buybacks, the debt paydown, and several new business announcements. He thanked Avenue Capital for supporting the company’s shift away from its former biotech brand, Eyenovia.
Balance sheet and HYPE holdings
As of September 30, Hyperion DeFi held about $14.5 million in cash, cash equivalents, and stablecoins. It also owned 1.85 million $HYPE tokens. There were roughly 15.44 million HYPD shares outstanding.
$HYPE is the native token of Hyperliquid, a layer-one blockchain designed for high-frequency trading. It has traded on major venues since Binance listed it with a seed tag in September. The company said more than 47 million $HYPE have been autonomously purchased and sequestered by the network from trading fees on its central limit order books.
The network settles orders, cancellations, and liquidations in 70-millisecond block times. It also runs HyperEVM, a smart-contract platform for permissionless DeFi applications, according to the filing. Staking $HYPE gives holders lower trading fees and higher referral bonuses on the network.
From biotech to onchain DeFi
Hyperion DeFi describes itself as the first U.S.-listed DeFi company on Hyperliquid. It offers shareholders exposure to $HYPE through staking yield and onchain utility revenue. The business is expanding alongside a broader build-out of Hyperliquid borrowing and lending services launched this year.
The filing included forward-looking statements about plans to grow its onchain DeFi businesses and adjust its capital structure. Those plans remain subject to market and regulatory risks. The company did not set a timetable for additional buybacks. It also did not disclose a total dollar value for the repurchase beyond the share count and average price.
That leaves investors with a clearer picture of the balance sheet, but perhaps not a full view of how future buybacks might be financed. For now, the debt retirement and share repurchase mark a concrete step in the company’s move away from biotech and toward crypto-linked finance.
