Hyperliquid Strategies Inc. (PURR) amended its existing ChEF Purchase Agreement with Chardan Capital Markets LLC, increasing the total commitment for the purchase of the company's common stock from $1.0 billion to $2.5 billion.
Key Details
- Agreement Amendment: On September 1, 2026, the company increased the aggregate gross purchase price of its common stock available under the agreement by $1.5 billion, raising the total from $1.0 billion to $2.5 billion.
- New Exchange Cap: The amendment introduces a new limitation that takes effect after the first $1.0 billion in shares are sold. The company cannot issue shares priced below $12.02 if the total number of such shares exceeds 42,641,847 (19.99% of outstanding shares).
- Stockholder Approval: This share issuance cap can be exceeded if the company obtains stockholder approval in accordance with Nasdaq rules.