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Hyperliquid Strategies expands Chardan equity facility to $2.5B

The expanded facility raises the maximum capacity for Hyperliquid to issue and sell additional common shares, bringing possible further dilution alongside additional funding capacity.

Reported · Written up by our desk · Market Structure

Hyperliquid Strategies, a Nasdaq-listed firm behind a HYPE-focused treasury strategy, increased its equity facility with Chardan Capital Markets from $1 billion to $2.5 billion, expanding its capacity to raise capital through share sales.

According to a Tuesday filing with the US Securities and Exchange Commission, the company amended its October 2025 Chardan Equity Facility purchase agreement to increase the aggregate gross purchase price of newly issued common shares, with Chardan able to buy shares at periodic intervals subject to pricing, trading volume, and other conditions.

Chardan, based in New York, can then resell the purchased shares in the public market. The $2.5 billion figure represents maximum capacity rather than funds already raised, and Hyperliquid said drawing on it would issue additional shares, which could dilute existing shareholders.

Hyperliquid previously reported raising $647 million through the facility and accumulating about 29.3 million HYPE tokens. The expansion comes after renewed market interest in Hyperliquid, including a more than 20% HYPE jump in August following US President Donald Trump’s comments about bringing the decentralized trading platform into the US in a fully compliant and legal fashion, while Hyperliquid Strategies shares rose 30.4% after those remarks, and the company said it is independent and not affiliated with Hyperliquid despite sharing the protocol’s name and holding its native token.

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