Avenue Capital Management II, L.P. - 21 Feb 2025 Form 4 Insider Report for EYENOVIA, INC. (EYEN)

Reporting relationship: 10%+ Owner
Issuer ticker: EYEN
Reported as of: 21 Feb 2025
Net transaction value: $0
SEC form: 4
Accepted by SEC: 03 Jun 2025, 21:18:40 UTC
Prior SEC filing: 03 Jun 2025
Next SEC filing: 06 Aug 2025
Source filing: View source filing
Reporting owner signature: Andrew Schinder, Attorney-in-Fact

Key filing fact

Avenue Capital Management II, L.P. filed Form 4 for EYENOVIA, INC. (EYEN) on 03 Jun 2025.

Key facts

This page summarizes Avenue Capital Management II, L.P.'s Form 4 filing for EYENOVIA, INC. (EYEN).
1 reported transaction and 2 derivative rows are listed below.
Accepted by SEC: 03 Jun 2025, 21:18.

Change

Previous filing in this sequence was filed on 03 Jun 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (4)

CIK 0001317338 Primary reporting owner

Avenue Capital Management II, L.P.

Relationship: 10%+ Owner
Address: C/O AVENUE CAPITAL GROUP, 11 WEST 42ND STREET, 9TH FLOOR, NEW YORK
Signature: Andrew Schinder, Attorney-in-Fact
Signature date: 03 Jun 2025

CIK 0001792691

Avenue Venture Opportunities Fund, L.P.

Relationship: 10%+ Owner
Address: 11 WEST 42ND STREET, 9TH FLOOR, NEW YORK
Signature: /s/ Andrew Schinder, Attorney-in-Fact
Signature date: 03 Jun 2025

CIK 0001886343

Avenue Venture Opportunities Fund II, L.P.

Relationship: 10%+ Owner
Address: 11 WEST 42ND STREET, 9TH FLOOR, NEW YORK
Signature: /s/ Andrew Schinder, Attorney-in-Fact
Signature date: 03 Jun 2025

CIK 0001259927

LASRY MARC

Relationship: 10%+ Owner
Address: C/O AVENUE CAPITAL GROUP, 11 WEST 42ND STREET, 9TH FLOOR, NEW YORK
Signature: /s/ Andrew Schinder, Attorney-in-Fact
Signature date: 03 Jun 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

EYEN holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 30,619
Date: 21 Feb 2025
Ownership: See footnotes 1 and 2.
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

EYEN transaction Derivative

Convertible Debt

Other

Transaction value
Shares: +5,952,381
Change %
Price
Shares after: 0
Date: 21 Feb 2025
Ownership: See footnotes 1 and 2.
Underlying class: Common Stock
Underlying amount: 5,952,381
Exercise price: $1.68
Footnotes: F3, F4, F5, F6

EYEN holding Derivative

Convertible Debt

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 0
Date: 21 Feb 2025
Ownership: See footnotes 1 and 2.
Underlying class: Common Stock
Underlying amount: 5,952,381
Exercise price: $1.68
Footnotes: F5, F6, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Avenue Capital Management II, L.P. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 7 footnotes

Footnote F1

Avenue Capital Management II, L.P. ("ACM II") is the investment manager of Avenue Venture Opportunities Fund, L.P. ("AVOF") and Avenue Venture Opportunities Fund II, L.P. ("AVOF II" and with AVOF, the "Funds"), each of which directly holds the securities reported in this Form 3, as to a 40% and 60% interest therein, respectively. ACM II has sole voting and investment power over the securities held by the Funds and may be deemed to have, but disclaims, beneficial ownership of such securities except to the extent of its pecuniary interest, if any, therein. The Funds are the direct owners of 30,619 shares of common stock of Issuer and convertible debt convertible into 5,952,381 shares of common stock of Issuer. Marc Lasry is the ultimate beneficial owner of the securities held by the Funds. See also footnote 2.

Footnote F2

Avenue Venture Opportunities Partners, LLC ("AVOP") and Avenue Venture Opportunities Partners II, LLC ("AVOP II") are the general partners of AVOF and AVOF II, respectively. GL Venture Opportunities Partners, LLC ("GLVOP") and GL Venture Opportunities Partners II, LLC ("GLVOP II") are the managing members of AVOP and AVOP II, respectively. AVOP, AVOP II, GLVOP and GLVOP II disclaim beneficial ownership of the securities except to the extent of their beneficial interest, if any, therein. Marc Lasry is the beneficial owner of GLVOP and GLVOP II and therefore is the ultimate beneficial owner of AVOF and AVOF II.

Footnote F3

On February 21, 2025, ACM II, as "Agent", and AVOF and AVOF II, as "Lenders", and Issuer entered into a Second Amendment to Supplement to Loan and Security Agreement dated November 22, 2022 (collectively, as amended and supplemented, the "Agreement"), pursuant to which Lenders have the right in their discretion at any time on or after April 1, 2025, to convert an aggregate amount of up to $10,000,000 of the aggregate principal amount of the outstanding Growth Capital Loans (as defined in the Agreement) into common stock of Issuer at a per share price of $1.68.

Footnote F4

See footnote 3.

Footnote F5

Not applicable.

Footnote F6

Reporting Persons have not converted any debt to date.

Footnote F7

On May 30, 2025, each of AVOF and AVOF II (collectively, the "Funds"), entered into a Third Amendment (the "Third Amendment") to the Agreement with Issuer. Pursuant to the Third Amendment, any conversion by the Funds of the principal amount of the Growth Capital Loans is subject to a 9.99% beneficial ownership limitation on Issuer's common stock and as a result, the Reporting Persons are no longer subject to Section 16.