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Hyperliquid Strategies boosts Chardan equity facility to $2.5 billion

The expanded deal lets the firm sell newly issued common stock to Chardan, while an issuance cap limits sales priced below $12.02 per share after $1 billion is used.

Reported · Written up by our desk · Market Structure

Hyperliquid Strategies, the digital asset treasury firm tied to Hyperliquid’s HYPE token, expanded its committed equity facility with Chardan Capital Markets to $2.5 billion from $1 billion, according to its latest SEC filing reviewed by The Block.

The company amended the ChEF Purchase Agreement originally signed on Oct. 22, 2025, which allows it to sell newly issued common stock to Chardan. However, after the first $1 billion worth of stock is sold, Nasdaq-related limits apply, including a restriction that sales priced below $12.02 per share cannot exceed 42,641,847 shares, or 19.99% of shares outstanding immediately before the amendment, unless shareholders approve more.

The Block reports that Hyperliquid Strategies has already sold about $647 million worth of shares in the agreement as of June 30. The outlet added that further issuances could provide additional funding for the firm’s treasury growth.

Separately, The Block noted Hyperliquid Strategies held about 29.4 million HYPE tokens as of Aug. 23, and said the HYPE token was down 1% over the past 24 hours to $83.03 at the time of publication. The firm’s Nasdaq-listed shares were down 7.31% to close at $11.36 on Tuesday, after rising 73% over the past month and 230% year to date.

Latest closeNasdaq Comp. 26,099.77 ▼1.0%

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