Eyenovia announces debt restructuring, improving cash runway

Eyenovia (EYEN) entered into an amendment to its outstanding senior secured convertible debt due November 1, 2025. The Amendment defers the Company’s monthly interest and amortization payments from March 2025 through September 2025. Additionally, the Amendment allows the full conversion of the debt into common shares of the Company commencing on April 1, 2025, at a price of $1.68 per share. “This Amendment strengthens Eyenovia’s capital structure and improves our near-term liquidity position, enhancing our ability to continue to develop our user-filled Optejet device to a potential near-term regulatory filing while we evaluate strategic alternatives to maximize shareholder value,” stated Michael Rowe, CEO. “We appreciate the confidence that our lender has placed in us as we continue to advance meaningful discussions with multiple parties. We look forward to providing a comprehensive update soon.” Chardan acted as exclusive financial advisor to the Company.