Hyperliquid Strategies expands equity facility to $2.5B

Hyperliquid Strategies raised its equity facility with Chardan from $1B to $2.5B, adding dilution caps and enabling more fundraising, though the full amount is not guaranteed.

Hyperliquid Strategies Inc. (PURR) has expanded its committed equity facility with Chardan Capital Markets from $1 billion to $2.5 billion, according to recent SEC filings. This amendment to the ChEF Purchase Agreement allows the company to issue newly created common stock to Chardan, providing up to $2.5 billion in aggregate gross purchase price. However, there is no guarantee that the full amount will be raised. The proceeds may be used for general corporate purposes, including potential purchases of HYPE, the native token of the Hyperliquid network. A dilution cap is in place: after $1 billion in stock has been sold, further issuances below $12.02 per share are limited to 42,641,847 shares, or 19.99% of shares outstanding before the amendment, unless shareholders approve more under Nasdaq rules. As of June 30, Hyperliquid Strategies had sold about $647 million worth of shares and held approximately 29.4 million HYPE tokens. The company’s stock closed at $11.36, down 7.3% on the day, but has posted significant gains over the past month and year.