Hyperliquid Strategies Invests $129.5M to Boost HYPE Token Holdings to 17.6 Million

Hyperliquid Strategies Financial Highlights

Following the business combination with Sonnet BioTherapeutics, Hyperliquid Strategies went public on NASDAQ on December 2, 2025. The company now boasts a strong initial capital base of 12.5 million HYPE tokens and $300 million in cash from investors.

Share Buybacks and Capital Allocation

The company allocated $10.5 million to repurchase approximately 3 million PURR shares, reducing the fully diluted share count to 150.6 million. Additionally, Hyperliquid Strategies invested $129.5 million to acquire around 5 million HYPE tokens, bringing total holdings to 17.6 million.

Capital Outlook

Hyperliquid Strategies currently holds $125 million in deployable capital (excluding working capital reserves), backed by a $1 billion equity line of credit (ELOC), ensuring ample support for future growth initiatives.