- Hyperliquid Strategies has expanded its equity facility with Chardan from $1 billion to $2.5 billion.
- The company has already sold about $647 million in shares and could use further sales to grow its HYPE treasury.
Hyperliquid Strategies has expanded its committed equity facility with Chardan Capital Markets from $1 billion to $2.5 billion. The move gives the HYPE-focused treasury firm access to additional capital as it continues to build its holdings.
The company disclosed the expansion in a recent filing with the SEC. Under the amended agreement, Hyperliquid Strategies can sell newly issued common shares to Chardan.
Hyperliquid Strategies Has Already Sold $647 Million in Shares
Hyperliquid Strategies has already raised a substantial amount through the equity facility. Company filings show that it had sold about $647 million worth of shares as of June 30.
The company did not disclose why it decided to increase the facility. However, the additional capacity could help it raise more funds for its HYPE treasury strategy.
The agreement also includes a Nasdaq-related restriction that applies after the first $1 billion in stock sales. Shares sold below $12.02 cannot exceed 42,641,847 shares without shareholder approval, which represents 19.99% of the company’s outstanding shares before the amendment.
Company Holds Nearly 29.4 Million HYPE
Hyperliquid Strategies held approximately 29.4 million HYPE tokens as of August 23, according to its latest 10-K filing. HYPE was trading at $83.03, representing a decline of about 1% over the previous 24 hours.
The company’s Nasdaq-listed shares also came under pressure on Tuesday, falling 7.31% to close at $11.36. Despite the daily decline, the stock has gained 73% over the past month and is up 230% since the beginning of the year.
The expanded facility could give Hyperliquid Strategies greater flexibility as it raises capital for its treasury strategy. Investors will also be watching future share sales because additional issuance could increase the company’s outstanding share count.
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