13D Filings
EYENOVIA, INC.
HYPD
Amendment
Ownership

9.99%

Total Shares

5,982,998

Issuer CIK

1682639

CUSIP

30234E203

Event Date

Jan 30, 2025

Accepted

Jun 3, 2025, 09:15 PM

Reporting Persons (8)
Joint Filing

This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.

NameType% of ClassAggregateSole VotingShared Voting
Avenue Venture Opportunities Fund, L.P.
Other
9.99%2,393,19900
Avenue Venture Opportunities Fund II, L.P.
Other
9.99%3,589,79900
Avenue Capital Management II, L.P.
Investment Adviser
9.99%5,982,9985,982,9980
Avenue Venture Opportunities Partners, LLC
Other
9.99%2,393,19900
Avenue Venture Opportunities Partners II, LLC
Other
9.99%3,589,79900
GL Venture Opportunities Partners, LLC
Other
9.99%2,393,19900
GL Venture Opportunities Partners II, LLC
Other
9.99%3,589,79900
Marc Lasry
Individual
9.99%5,982,99800
Disclosure Items (7)

Security Title

COMMON STOCK, par value $0.0001 per share

Issuer Name

EYENOVIA, INC.

Issuer Address

23461 South Pointe Drive, Laguna Hills, CA, 92653

Filing Persons

Item 2 is hereby amended and restated as follows: This Schedule 13D is filed jointly by Avenue Venture Opportunities Fund, L.P., a Delaware limited partnership; Avenue Venture Opportunities Fund II, L.P., a Delaware limited partnership; Avenue Capital Management II, L.P., a Delaware limited partnership; Avenue Venture Opportunities Partners, LLC, a Delaware limited liability company; Avenue Venture Opportunities Partners II, LLC, a Delaware limited liability company; GL Venture Opportunities Partners, LLC, a Delaware limited liability company; GL Venture Opportunities Partners II, LLC, a Delaware limited liability company; and Marc Lasry, an individual and citizen of the United States, who are collectively referred to herein as "Reporting Persons".

Business Address

The address of each Reporting Person is Avenue Capital Group, 11 West 42nd Street, 9th Floor, New York, New York 10036

Principal Occupation

Each of Avenue Venture Opportunities Fund, L.P. ("Fund") and Avenue Venture Opportunities Fund II, L.P. ("Fund II") is a venture debt fund. Avenue Capital Management II, L.P., is a registered investment adviser and the manager of each of Fund and Fund II ("Manager"). Avenue Venture Opportunities Partners, LLC ("AVOP") is the general partner of Fund, Avenue Venture Opportunities Partners II, LLC ("AVOPII") is the general partner of Fund II. GL Venture Opportunities Partners, LLC ("GLVOP") is the managing member of AVOP, the general partner of Fund. GL Venture Opportunities Partners II, LLC ("GLVOPII") is the managing member of AVOPII, the general partner of Fund II. Marc Lasry is the managing member of GLVOP and GLVOPII and a founder of Avenue Capital Group, a global investment firm.

Convictions

Within the last five years, and the five years preceding the original transaction, no Reporting Person has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction nor been subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Citizenship

See Item 2(a).

Item 3 is hereby amended and restated as follows: Investment capital of Fund and Fund II.

Item 4 is hereby amended and restated as follows: (a) - (c) On November 22, 2022, Fund and Fund II entered into a Loan and Security Agreement, and related agreements (collectively, the "Agreement"), by and among Issuer, as borrower, Fund and Fund II, as lenders, and Manager, as administrative agent and collateral agent, pursuant to which lenders agreed to fund an initial Growth Capital Loan (as defined in the Agreement) in the aggregate original principal amount of $10 million (the "Principal"). As consideration for the commitment, Reporting Persons received an equity grant equal to 547,807 shares of Issuer's common stock. Reporting Persons initially had the right to convert up to $5 million of the Principal into 2,327,746 shares of Issuer's common stock at a conversion price of $2.148. As of November 22, 2022, the Reporting Persons beneficially owned 2,875,553 shares, or 7.38%, of Issuer's common stock based on 36,112,987 shares of Issuer's common stock issued and outstanding as reported by the Issuer as of November 11, 2022. According to information received from the Issuer, as of June 30, 2024, there were 55,817,921 shares of Issuer's common stock issued and outstanding, and the Reporting Persons beneficially owned 4.9% of the Issuer's common stock. On November 22, 2024, pursuant to a First Amendment to the Supplement to the Agreement, Issuer issued Reporting Persons 1,907,733 shares of common stock. Such issuance resulted in the Reporting Persons beneficially owning 4,777,286 shares, or 5.24%, of the Issuer's common stock based on 86,441,661 shares of Issuer's common stock issued and outstanding as of November 8, 2024. According to information received from the Issuer, as of December 9, 2024, there were 111,425,129 shares of Issuer's common stock issued and outstanding, and the Reporting Persons beneficially owned 4.11% of the Issuer's common stock. Effective as of Issuer's one-for-eighty reverse stock split on January 31, 2025, Reporting Persons beneficially owned 2,358,365 shares, or 52.90%, of the Issuer's common stock based on 2,100,000 shares of Issuer's common stock issued and outstanding as reported by the Issuer as of January 28, 2025. On February 21, 2025, pursuant to a Second Amendment to the Supplement to the Agreement Reporting Persons acquired the right to convert, at any time on or after April 1, 2025, up to $10 million of the Principal at $1.68 per share, resulting in the Reporting Persons beneficially owning 5,983,000 shares, or 74.02%, of the Issuer's common stock based on 2,100,000 shares of Issuer's common stock issued and outstanding as reported by the Issuer as of January 28, 2025. According to information received from the Issuer, as of April 11, 2025, there were 2,830,546 shares of the Issuer's common stock issued and outstanding, and the Reporting Persons beneficially owned 67.88% of the Issuer's common stock. On May 30, 2025, Reporting Persons and the Issuer entered into a Third Amendment to the Supplement to provide a 9.99% "blocker" provision designed to prevent Reporting Persons from being beneficial owners of more than 9.99% of the Issuer's Common Stock. Other than entering into the Agreement and amendments described herein, Reporting Persons have not engaged in any transaction with respect to the shares of Issuer's common stock. The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the common stock in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Persons will take such actions in the future as they may deem appropriate in light of the circumstances existing from time to time, which may include disposal of some or all of the shares of common stock currently owned by the Reporting Persons or otherwise acquired by them pursuant to conversion of debt or in privately negotiated transactions. Any such transactions may be effected at any time or from time to time subject to any applicable limitations imposed on the sale of the common stock by applicable law. Except to the extent the foregoing may be deemed a plan or proposal, the Reporting Persons have no additional plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of the Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto.

Percentage of Class

Item 5 is hereby amended and restated as follows: See Item 13 of the cover page for each Reporting Person. Pursuant to the terms of the Third Amendment to the Supplement, the Reporting Persons cannot convert any portion of their loans to the extent the Reporting Persons would beneficially own, after any such conversion, more than 9.99% of the outstanding shares of Common Stock of the Issuer (the "Blocker"). Consequently, as of the date reported herein, the Reporting Persons are not able to fully convert their loans due to the Blocker. The Blocker of 9.99% may be changed to up to 19.99% at the Reporting Persons' election upon at least 61 days' notice to the Issuer.

Number of Shares

See Items 7 through 10 of the cover page for each Reporting Person.

Transactions

Not applicable.

Shareholders

No person other than the Reporting Persons is known to have the right to receive, or power to direct the receipt of dividends from, or the proceeds from the sale of, Issuer's securities.

Date of 5% Ownership

See Item 4.

Item 6 is hereby amended and restated as follows: Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the Reporting Persons have entered into an agreement with respect to the joint filing of this Schedule 13D. A copy of the Joint Filing Agreement is attached as Exhibit 99.1 hereto and is incorporated herein by reference. Except as described herein, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Issuer.

Exhibit 99.1: Joint Filing Agreement by and among the Reporting Persons (filed as Exhibit 99.1 to Schedule 13D on May 15, 2025). https://www.sec.gov/Archives/edgar/data/1682639/000182912625003724/avenueventure_ex99-1.htm