NEW YORK, June 18, 2025 /PRNewswire/ — Chardan, a prominent investment banking and advisory firm, has announced its entry into the digital asset space. The firm is now advising on and structuring various transactions that connect traditional financial markets with the dynamic realm of blockchain and cryptocurrency. This strategic initiative aims to enhance Chardan’s role in the crypto finance sector, and it has recently acted as a key advisor and placement agent in several significant deals.
Eyenovia’s $50 Million PIPE for HYPE Token Acquisition
Chardan served as the exclusive placement agent for Eyenovia Inc.’s (NASDAQ: EYEN) $50 million PIPE financing. The funds raised will facilitate the acquisition of more than 1 million HYPE tokens, which are the native tokens of the Hyperliquid blockchain. With this move, Eyenovia becomes the first publicly traded company in the U.S. to hold HYPE tokens in its treasury. This deal positions Eyenovia as a major validator on the Hyperliquid network and includes a strategic staking partnership with Anchorage Digital. The financing structure involved issuing non-voting convertible preferred stock and warrants, with the potential to raise up to $150 million in total.
Lion Group’s $600 Million Facility to Support Hyperliquid Strategy
Chardan also acted as the sole placement agent for Lion Group Holding’s (NASDAQ: LGHL) substantial $600 million facility. This funding will aid in the strategic acquisition of HYPE as a reserve asset, in addition to Solana (SOL) and Sui (SUI). This initiative marks a significant relaunch of Lion Group’s crypto operations, emphasizing its shift towards decentralized finance infrastructure.
VivoPower’s $121 Million PIPE for XRP Treasury Initiative
In another notable transaction, Chardan facilitated a $121 million private placement for VivoPower International PLC (NASDAQ: VVPR). VivoPower is set to become the first public company to adopt an XRP-focused digital asset treasury strategy. The capital raised will be utilized to purchase XRP, develop a decentralized finance team, and support the XRPL ecosystem.
Classover’s $500 Million Convertible Notes for Solana Strategy
Chardan provided financial advisory services to Classover Holdings, Inc. (NASDAQ: KIDZ) for its initial $11 million tranche, which marks the first issuance under a $500 million senior secured convertible note financing plan. As stipulated in the financing agreement, approximately 80% of the net proceeds from this initial tranche will be directed towards the acquisition of Solana (SOL) tokens, subject to specific terms. Classover has already secured over 6,400 SOL tokens and is actively seeking further opportunities in staking and locked token acquisitions, demonstrating its dedication to a blockchain-centric 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 for the Web3 era.” Chardan is committed to broadening its digital asset advisory capabilities, providing tailored capital market solutions, tokenomics structuring, and blockchain integration strategies for forward-thinking clients.
About Chardan
Chardan is an independent global investment bank with a focus on sectors such as healthcare, digital assets, technology, SPACs, and emerging growth companies. The firm offers a comprehensive range of services, including 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 is affiliated with several regulatory bodies, including FINRA, SIPC, and NASDAQ.
