Hyperliquid sets VWAP share pricing at 98.5%, 97%
Hyperliquid Strategies Inc (PURR) entered into Amendment No. 2 to its ChEF Purchase Agreement with Chardan Capital Markets LLC on September 14, 2026, changing how the per share purchase price of common stock is determined for future sales under that agreement.
Rhea-AI Filing Summary
Hyperliquid Strategies Inc (PURR) entered into Amendment No. 2 to its ChEF Purchase Agreement with Chardan Capital Markets LLC on September 14, 2026, changing how the per share purchase price of common stock is determined for future sales under that agreement.
For any VWAP Purchase or Intraday VWAP Purchase, the price will now equal 98.5% of the VWAP over the applicable purchase period, and for any Off-Hour VWAP Purchase the price will equal 97.0% of the VWAP over the applicable purchase period, in each case subject to specified adjustments.
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8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
VWAP Purchase discount: 98.5% of VWAP
Off-Hour VWAP Purchase discount: 97.0% of VWAP
Amendment date: September 14, 2026
+1 more
4 metrics
VWAP Purchase discount
98.5% of VWAP
Per share price for VWAP Purchases and Intraday VWAP Purchases under the amended ChEF Purchase Agreement
Off-Hour VWAP Purchase discount
97.0% of VWAP
Per share price for Off-Hour VWAP Purchases under the amended ChEF Purchase Agreement
Amendment date
September 14, 2026
Date of Amendment No. 2 to the ChEF Purchase Agreement
Original ChEF Purchase Agreement date
October 22, 2025
Original date of the ChEF Purchase Agreement between the Company and the Investor
Key Terms
Material Definitive Agreement, VWAP Purchase Price, VWAP, Intraday VWAP Purchase, +2 more
6 terms
Material Definitive Agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
VWAP Purchase Price financial
"The Amendment replaced the definition of “VWAP Purchase Price”, providing that the per share"
VWAP financial
"will be equal to 98.5% of the VWAP (as defined in the Purchase Agreement) over the applicable"
VWAP, or Volume-Weighted Average Price, is a way to find the average price of a stock throughout the trading day, giving more importance to times when more shares are traded. It helps traders see the typical price and decide whether a stock is expensive or cheap compared to its average, similar to finding the average speed during a trip by giving more weight to times when you traveled faster or slower.
Intraday VWAP Purchase financial
"the Company may elect to sell to the Investor in (i) a VWAP Purchase or Intraday VWAP Purchase"
Off-Hour VWAP Purchase financial
"or (ii) an Off-Hour VWAP Purchase (as defined in the Purchase Agreement) will be equal to 97.0%"
Emerging growth company regulatory
"or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Hyperliquid Strategies Inc (PURR) change in its ChEF Purchase Agreement?
Hyperliquid Strategies Inc entered Amendment No. 2 to its ChEF Purchase Agreement with Chardan Capital Markets LLC, revising the definition of the VWAP Purchase Price used to calculate per share prices for future common stock sales under the facility.
What is the new VWAP-based price for VWAP Purchases under the PURR agreement?
For any VWAP Purchase or Intraday VWAP Purchase, the per share purchase price will now be 98.5% of the VWAP over the applicable purchase period, subject to certain adjustments described in the amended agreement.
What discount applies to Off-Hour VWAP Purchases for Hyperliquid Strategies (PURR)?
For an Off-Hour VWAP Purchase, the per share purchase price will be 97.0% of the VWAP over the applicable purchase period, in each case subject to adjustments set forth in the amended ChEF Purchase Agreement.
When was Amendment No. 2 to the Hyperliquid Strategies (PURR) ChEF Purchase Agreement signed?
Amendment No. 2 to the ChEF Purchase Agreement between Hyperliquid Strategies Inc and Chardan Capital Markets LLC was dated September 14, 2026.
Who is the investor under Hyperliquid Strategies Inc’s amended ChEF Purchase Agreement?
The investor under Hyperliquid Strategies Inc’s ChEF Purchase Agreement, as amended on September 14, 2026, is Chardan Capital Markets LLC.
What prior agreement did the new Hyperliquid Strategies (PURR) amendment modify?
The amendment modifies the ChEF Purchase Agreement originally dated October 22, 2025, as previously amended, between Hyperliquid Strategies Inc and Chardan Capital Markets LLC.
AI-generated analysis. How Rhea-AI works. Not financial advice.
