Avenue Venture Opportunities Fund, L.P. → EYENOVIA, INC. HYPD

(a) - (c) On June 17, 2025, each of Avenue Venture Opportunities Fund, L.P., and Avenue Venture Opportunities Fund II, L.P. ("Lenders"), Avenue Capital Management II, L.P., as administrative and collateral agent ("Agent"), entered into a Fourth Amendment to Supplement to Loan and Security Agreement, as amended (the "Fourth Amendment"), with Issuer, pursuant to which, among other things, Lenders right to convert the outstanding Principal of the Growth Capital Loan was cancelled. In addition, Fund was issued a warrant to purchase 40,000 shares of Common Stock of Issuer at a purchase price of $4.00 per share (the "Fund Warrant"), and Fund II was issued a warrant to purchase 210,000 shares of Common Stock of Issuer at $4.00 per share (the "Fund II Warrant" and together with Fund Warrant, the "Warrants"). The Warrants expire on June 17, 2030, and are exercisable at any time, subject to the Blocker (as defined below). Therefore, the aggregate amount beneficially owned by the Reporting Persons excludes such Warrants. See also Item 5. Other than entering into the Fourth Amendment and the issuance of the Warrants to the Funds as reported 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.