Every 424B that Hyperliquid Strategies Inc (PURR) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow PURR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PURR filings page.
Hyperliquid Strategies Inc registered for resale up to 160,000,000 shares of common stock by Chardan Capital Markets LLC, representing shares the company may issue and sell to Chardan under a committed equity facility. The company receives no proceeds from Chardan’s resales, but may receive up to $2.5 billion in aggregate gross purchase proceeds from sales to Chardan. As of September 8, 2026, it had received approximately $1.1 billion, with approximately $1.4 billion in potential gross proceeds remaining after that date.
As of September 8, 2026, 237,919,288 shares were outstanding, and 112,952,100 shares had been sold under the facility. After $1.0 billion in aggregate facility sales, the agreement limits shares priced below $12.02 per share when such issuance would exceed the 42,641,847-share Exchange Cap and the weighted average purchase price of the excess shares is below $12.02, unless stockholder approval is obtained or Nasdaq rules do not require it. Proceeds are intended for general corporate purposes, including potential purchases of HYPE Tokens.
Hyperliquid Strategies Inc (symbol PURR) has filed a prospectus supplement covering the potential offer and sale from time to time, through Chardan Capital Markets LLC, of up to 160,000,000 shares of its common stock under an existing shelf registration. This supplement also incorporates the company’s newly filed Annual Report on Form 10-K for the year ended June 30, 2026.
Hyperliquid Strategies is a U.S. publicly listed digital asset treasury company whose primary business is accumulating HYPE, the native token of the Hyperliquid Layer 1 blockchain, on behalf of stockholders and generating income mainly via staking and related DeFi activities. As of August 23, 2026, it held approximately 29.4 million HYPE tokens, which it believes is the largest HYPE position of any U.S. public company, and 197,837,597 common shares were outstanding. The strategy is executed under a detailed three-pillar framework (capital raising, allocation, and deployment), including using equity issuance when the stock trades at a premium to its internally defined market NAV ratio.
The filing describes the Hyperliquid ecosystem, where cumulative perpetual futures trading volume has exceeded $5.4 trillion and an Assistance Fund uses 99% of protocol fees to buy HYPE and periodically burn tokens, with 46.7 million HYPE (4.7% of initial supply) already removed from circulation. Extensive risk factors highlight high volatility in HYPE’s price, evolving global regulation of digital assets, potential classification questions under U.S. securities and investment company laws, custody and validator risks, and the possibility that large swings in HYPE’s value could materially affect PURR’s financial results and stock price.
Hyperliquid Strategies Inc (PURR) has filed a prospectus supplement to its Form S-1, updating a resale registration for Rorschach Advisors LLC covering up to 7,761,860 Advisor Issued Shares of common stock and up to 27,394,800 Advisor Warrant Shares issuable on exercise of 27,394,800 Advisor Warrants. The supplement incorporates the company’s newly filed Form 10-K for the year ended June 30, 2026.
Hyperliquid Strategies operates as a digital-asset treasury company whose core strategy is to accumulate and stake HYPE, the native token of the Hyperliquid Layer 1 blockchain. As of August 23, 2026, it held about 29.4 million HYPE tokens, which it believes is the largest HYPE position of any U.S. public company, and stakes substantially all holdings to earn protocol rewards.
The business is closely tied to the Hyperliquid ecosystem, which generated about $857 million in 2025 net protocol revenue and has burned 46.7 million HYPE via its Assistance Fund. The company’s strategy centers on raising equity when its stock trades above an internal market-NAV ratio, deploying cash into HYPE when it deems the token undervalued, and potentially repurchasing shares when they trade at a discount to this metric, all while navigating significant regulatory and classification risks around digital assets.
Hyperliquid Strategies Inc supplements its prospectus to register up to 160,000,000 shares of Common Stock for sale from time to time by Chardan Capital Markets LLC. The supplement, dated May 8, 2026, also attaches the Company’s Form 10-Q for the quarter ended March 31, 2026.
The Form 10-Q shows the Company holding cash and cash equivalents of $113,064 and HYPE digital assets with a reported fair value of $689,045 (amounts presented in the filing). The filing reports net income of $152,510 for the three months ended March 31, 2026 and states 134,621,571 shares outstanding as of May 7, 2026. The prospectus supplement should be read with the December 2, 2025 prospectus.
Hyperliquid Strategies Inc. has registered the resale of up to 160,000,000 shares of common stock that may be offered from time to time by Chardan Capital Markets LLC under an existing equity facility. The company’s stock trades on Nasdaq under the symbol PURR.
Hyperliquid operates as a cryptocurrency treasury company focused on holding and staking HYPE, the native token of the Hyperliquid Layer-1 blockchain, while continuing legacy biotech activities via its Sonnet subsidiary. As of December 31, 2025, it held HYPE digital assets with a fair value of $327.6 million and cash and cash equivalents of $281.9 million, supporting total assets of $616.6 million.
For the three months ended December 31, 2025, revenue was $0.5 million from net staking rewards. The company reported a net loss of $304.5 million, driven largely by a $93.2 million unrealized loss on HYPE tokens, a $155.8 million loss on a HYPE contribution commitment, and a $35.6 million in-process R&D write-off from the Sonnet acquisition. Management states that capital raised through a PIPE financing and the equity facility has alleviated prior substantial doubt about its ability to continue as a going concern for at least one year.