Hyperliquid Strategies Inc raises funding to $2.5 billion and introduces cap mechanism

On September 2nd, Hyperliquid Strategies Inc (PURR) revised its ChEF purchase agreement with Chardan Capital Markets, increasing the total commitment for newly issued common shares from $1 billion to $2.5 billion. The face value of newly issued shares is 0.01 US dollars, and the revised introduction of a trading platform cap mechanism: after the cumulative sale amount exceeds 1 billion US dollars, the additional issuance limit below 12.02 US dollars per share is 42641847 shares. Additional issuances exceeding this threshold require shareholder approval in accordance with NASDAQ rules. According to BIT (bit. com) market data, PURR closed down 7.31%.