Hyperliquid Strategies boosts facility to $2.5B

• Hyperliquid Strategies increased its equity facility with Chardan from $1 billion to $2.5 billion.
• The company had already raised $647 million through the facility and held about 29.3 million HYPE tokens.
• The larger facility gives Hyperliquid Strategies more capacity to fund its HYPE treasury strategy.

Hyperliquid Strategies raised its Chardan equity facility from $1 billion to $2.5 billion.

The company had already raised $647 million through the facility and accumulated about 29.3 million HYPE (CRYPTO:HYPE) tokens.

The new agreement lets Chardan buy newly issued shares under pricing and trading conditions.

The $2.5 billion figure is the maximum facility size, not money already raised by the company.

Following the announcement, the Hyperliquid Strategies share price was down 7.31% at $11.36.

The company said it is independent from the Hyperliquid protocol despite holding its native token.

HYPE rose more than 20% in August after comments about bringing Hyperliquid into the US market.

At the time of reporting, Hyperliquid price was $82.28.