Hyperliquid Strategies expands equity facility to $2.5 billion from $1 billion

Hyperliquid Strategies (PURR) increased the size of its committed equity facility with Chardan Capital Markets to $2.5 billion from $1 billion, according to its latest SEC filing.

The digital asset treasury firm, focused on Hyperliquid's HYPE (HYPE) token, revealed in its 8-K statement that it has amended the ChEF Purchase Agreement first signed on Oct. 22, 2025.

Under the expanded facility, Hyperliquid Strategies is able to sell newly issued common stock to Chardan. Nonetheless, a Nasdaq-related issuance limit applies after the first $1 billion worth of stock is sold. 

From that point, sales priced below $12.02 per share cannot exceed 42,641,847 shares, or  19.99% of the shares outstanding immediately before the amendment, unless shareholders approve them.

While the HYPE treasury firm did not provide a reason behind the expansion of the facility, recent filings show that the company has sold around $647 million worth of shares by June 30. Further issuance of shares would allow the company to raise funds to grow its treasury.

According to the company's latest 10-K statement, Hyperliquid Strategies held approximately 29.4 million HYPE tokens as of Aug. 23. HYPE is down 1% in the past 24 hours, currently trading at $83.03.

Meanwhile, Hyperliquid Strategies' Nasdaq-listed shares fell 7.31% to close at $11.36 on Tuesday. The stock has risen 73% over the past month and 230% since the beginning of the year.