The Nasdaq-listed Hyperliquid Strategies expanded its committed equity facility to $2.5 billion from $1 billion, the HYPE treasury company disclosed in an 8-K filed on September 1.

The facility, a ChEF Purchase Agreement with Chardan Capital Markets first signed in October 2025, lets the firm sell newly issued common stock to the bank on demand. After the first $1 billion in sales, a Nasdaq rule caps stock priced below $12.02 at 42.6 million shares, or 19.99% of shares outstanding.

As of June 30 the company had sold roughly $647 million of stock under the deal, and as of August 23 it held about 29.4 million HYPE. It gave no reason for the expansion, but the added headroom lets it keep raising to grow its treasury.

HYPE traded near $83 at the time, down about 1% on the day. Shares of Hyperliquid Strategies (PURR) fell 7.3% to $11.36, though the stock is still up roughly 230% year to date.

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