Hyperliquid Strategies raises equity facility to $2.5 billion with Chardan

Hyperliquid Strategies, a digital asset treasury firm focused on the Hyperliquid ecosystem’s HYPE token, has expanded its equity purchase agreement with Chardan Capital Markets from $1 billion to $2.5 billion, according to a recent SEC filing.

The company amended its ChEF Purchase Agreement, originally signed in October 2025, to increase the capacity for selling newly issued common stock to Chardan. However, a Nasdaq rule limits further issuances below $12.02 per share to 42.6 million shares—or 19.99% of outstanding shares—unless shareholders approve an exception.

Key numbers from the filing

• Equity facility expanded from $1 billion to $2.5 billion.
• Approximately $647 million in shares sold under the agreement as of June 30, 2026.
• Hyperliquid Strategies held about 29.4 million HYPE tokens as of August 23, 2026.
• Company’s Nasdaq-listed stock closed at $11.36 on September 1, down 7.31% for the day.

What the SEC filing says

The 8-K filing confirms the amendment to the ChEF Purchase Agreement, allowing Hyperliquid Strategies to sell additional shares to Chardan. The company did not disclose a specific reason for the expansion, but prior filings indicate the funds support treasury growth.

A Nasdaq rule restricts issuances below $12.02 per share after the first $1 billion in sales, capping additional shares at 19.99% of the pre-amendment total unless approved by shareholders.

Stock and token performance

Hyperliquid Strategies’ stock has risen 73% over the past month and 230% since the start of 2026, despite the 7.31% drop on September 1. The HYPE token, tied to the Hyperliquid ecosystem, traded at $83.03 at the time of reporting, down 1% in 24 hours.

Sources

• The Block