Hyperliquid Strategies increased its equity financing commitment with Chardan Capital Markets to $2.5 billion from $1 billion, according to a September 1 SEC filing. The amendment raises the total capacity by $1.5 billion and allows the company to sell newly issued PURR shares to Chardan over time. After cumulative share sales reach $1 billion, Hyperliquid may not sell more than 42,641,847 shares below $12.02 per share without shareholder approval or a Nasdaq exception. PURR closed at $11.36 on September 1, down about 7.3 percent, with a trading range of $11.03 to $12.31 and volume of roughly 24.3 million shares. The company held 29.3 million HYPE tokens as of August 19 and had previously spent $773.4 million to acquire about 16.5 million tokens at an average price of $46.77. It reported $149.9 million in cash and no debt at the end of June. Proceeds from the equity facility are intended for general corporate purposes, including optional HYPE purchases, but no specific allocation or timeline was disclosed. The arrangement does not guarantee that Chardan will purchase the full $2.5 billion and any share issuance could dilute existing investors. The expanded facility gives Hyperliquid flexibility to raise capital through equity sales, subject to market conditions and Nasdaq rules, though the amount ultimately raised may be lower than the maximum commitment.