NEW YORK, June 18, 2025 /PRNewswire/ — Chardan, a prominent global investment banking and advisory firm, has announced its entry into the digital asset market. This expansion involves advising on and structuring various transactions that connect traditional capital markets with the fast-evolving landscape of blockchain technology and cryptocurrencies.
Eyenovia’s $50 Million PIPE to Acquire HYPE Tokens
In a significant move, Chardan served as the exclusive placement agent for Eyenovia Inc.’s (NASDAQ: EYEN) $50 million PIPE financing. The funds raised will be utilized to purchase over 1 million HYPE tokens, which are the native digital assets of the Hyperliquid blockchain. This acquisition makes Eyenovia the first publicly traded company in the U.S. to include HYPE in its treasury, enhancing its status as a major validator within the Hyperliquid network. The transaction also features a strategic staking partnership with Anchorage Digital and involves the issuance of non-voting convertible preferred stock and warrants, which could lead to total proceeds of up to $150 million.
Lion Group’s $600 Million Facility to Launch Hyperliquid Strategy
Chardan also acted as the sole placement agent for Lion Group Holding’s (NASDAQ: LGHL) $600 million facility. This funding is intended to facilitate the strategic acquisition of HYPE as a reserve asset, in addition to Solana (SOL) and Sui (SUI). This initiative marks LGHL’s re-entry into the cryptocurrency space and signifies a strategic shift towards decentralized finance infrastructure.
VivoPower’s $121 Million PIPE to Launch XRP Treasury Strategy
In another notable transaction, Chardan served as the placement agent for VivoPower International PLC’s (NASDAQ: VVPR) $121 million private placement. VivoPower aims to be the first publicly traded company to adopt a treasury strategy focused on XRP. The funds raised will be directed towards acquiring XRP, developing a decentralized finance team, and supporting the XRPL ecosystem.
Classover’s $500 Million Convertible Notes for Solana Treasury Strategy
Chardan provided financial advisory services for Classover Holdings, Inc. (NASDAQ: KIDZ) in its $11 million initial tranche, which is part of a larger $500 million senior secured convertible note financing. According to the financing terms, around 80% of the net proceeds from this initial tranche will be devoted to acquiring Solana (SOL) tokens, subject to specific terms and conditions. Classover has already secured over 6,400 SOL tokens and is actively seeking further opportunities in staking and locked token purchases, thereby solidifying its commitment to a blockchain-centered financial strategy.
Chardan’s Vision for the Future of Finance
“These transactions highlight our dedication to leading the integration of traditional finance with digital assets,” stated Jonas Grossman, President and Managing Partner at Chardan. “We take pride in supporting innovative companies such as Eyenovia, VivoPower, Classover, and Lion Group Holding as they transform capital allocation and treasury management in the Web3 era.” Chardan is committed to broadening its digital asset advisory services, providing tailored capital market solutions, tokenomics structuring, and strategies for blockchain integration aimed at progressive clients.
About Chardan
Chardan is an independent global investment bank that specializes in sectors such as healthcare, digital assets, technology, SPACs, and emerging growth companies. Its array of services includes capital raising, merger and acquisition advisory, strategic consulting, equity research, corporate access, and institutional trading. Based in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and holds memberships with FINRA, SIPC, and NASDAQ.
