This page is intended to provide access to SEC filings for Hyperliquid Strategies Inc (NASDAQ: PURR), a company that describes itself as a digital asset treasury business focused on accumulating HYPE, the native token of the Hyperliquid blockchain. While specific filings may vary over time, SEC documents are the primary source for detailed information about the company’s operations, risks, and capital structure.
In its public descriptions, Hyperliquid Strategies Inc highlights activities such as staking, yield optimization, and active engagement in the Hyperliquid ecosystem as part of its approach to generating returns from HYPE. When available, core filings such as annual reports on Form 10-K and quarterly reports on Form 10-Q can provide additional context on how these activities are reflected in the company’s financial statements, risk factors, and management discussion.
For investors tracking PURR, SEC filings can also shed light on matters such as stock repurchase programs authorized by the Board of Directors, the company’s use of cash in connection with its HYPE-focused strategy, and other capital allocation decisions. Current reports on Form 8-K, when filed, may discuss material events, including changes to repurchase authorizations or other significant corporate actions.
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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.
Hyperliquid Strategies Inc CEO and director David Ira Schamis reported an equity award in the company’s common stock. On February 9, 2026, he acquired 40,789 shares at a price of $0 through a grant classified as a “grant, award, or other acquisition.”
After this award, he directly beneficially owned 136,309 shares of common stock. The grant represents restricted stock units scheduled to vest over three years, with one-third vesting on December 2, 2026, one-third on December 2, 2027, and one-third on December 2, 2028.
Hyperliquid Strategies Inc director Jeffrey Tuder reported an equity award. On February 9, 2026, he acquired 40,789 shares of common stock at a price of $0 through a grant classified as a restricted stock unit award. These restricted stock units are scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028. After this grant, he holds 40,789 shares directly and 8,188 shares indirectly through Tremson Capital Management, LLC, for which he disclaims beneficial ownership except for his pecuniary interest.
Hyperliquid Strategies Inc director Albert D. Dyrness reported receiving a grant of 40,789 restricted stock units (RSUs) of common stock on February 9, 2026 at a price of $0 per unit. Following this award, he beneficially owns 41,671 common shares.
The RSUs are scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028. The filing characterizes the transaction as a grant, award, or other acquisition of shares held directly.
Hyperliquid Strategies Inc director Robert E. Diamond Jr. received a grant of 40,789 shares of common stock on February 9, 2026 as a stock award, at a stated price of $0 per share. After this grant, he directly beneficially owns 677,589 common shares.
The award represents restricted stock units scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028. This filing reports an equity-based compensation grant rather than an open-market stock purchase or sale.
Hyperliquid Strategies Inc director Nailesh Bhatt received a stock award of 40,789 shares of common stock on February 9, 2026. The filing shows this as an acquisition at a price of $0 per share, bringing his directly held stake to 42,871 shares.
The award represents restricted stock units that are scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028. This structure ties Bhatt’s compensation to the company’s longer-term performance and continued service.
Hyperliquid Strategies Inc director Eric S. Rosengren acquired 40,789 shares of common stock on February 9, 2026 through a stock grant. This award was made at a price of $0 per share and increased his beneficial ownership to 64,669 shares held directly.
The grant represents restricted stock units that are scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028. This creates a long-term incentive that ties his compensation to future company performance.
Hyperliquid Strategies Inc director Thomas C. King reported an acquisition of company stock through an equity grant. On February 9, 2026, he received 40,789 shares of Common Stock at a price of $0.00 per share as a grant, increasing his directly held position to 64,669 shares.
The grant represents restricted stock units that are scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028, aligning potential ownership with longer-term service.
Hyperliquid Strategies Inc director Lawrence E. Leibowitz reported an equity award of 40,789 shares of common stock, recorded as a grant under a Form 4 filing. The award is in the form of restricted stock units that carry a price of $0 per unit.
The filing shows he beneficially owns 80,589 common shares after this grant. These restricted stock units are scheduled to vest over three years, with one-third vesting on each of December 2, 2026, December 2, 2027, and December 2, 2028.
Hyperliquid Strategies Inc filed its first post‑transaction 10‑Q, showing a net loss of $304.5M for the quarter ended December 31, 2025 on staking revenue of $0.5M. Results were driven by a $93.2M unrealized loss on HYPE digital assets and a $155.8M loss on a HYPE contribution commitment.
The company holds 12,857,533 HYPE tokens with a cost basis of $590.0M and fair value of $327.6M, plus cash and cash equivalents of $281.9M, resulting in total assets of $616.6M and stockholders’ equity of $589.8M. Management reports that capital raised through a PIPE financing and an Equity Facility has alleviated prior substantial doubt about going concern. As of December 31, 2025 there were 124,093,048 common shares outstanding, and the business is repositioned as a HYPE‑focused crypto treasury while retaining Sonnet’s biotech operations.