Hyperliquid files S-1 to raise up to $1B via Chardan facility

Hyperliquid Strategies filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission on Wednesday seeking to raise up to $1 billion through the sale of up to 160 million shares, the filing shows. The proposed offering, structured through a committed equity facility with Chardan Capital Markets, would fund general corporate purposes and could include additional purchases of Hyperliquid's native HYPE token and related treasury activities.

Under the arrangement, Chardan would have the option to buy shares over time rather than through a single block sale, giving Hyperliquid flexibility to draw capital as market conditions permit. The company said proceeds may be used for broad corporate needs and specifically identified potential acquisitions of HYPE tokens. Hyperliquid also disclosed plans to stake a substantial portion of its HYPE holdings to generate ongoing staking rewards, a strategy the filing described as intended to enhance the public company's ability to generate income.

Hyperliquid Strategies is the product of a pending business combination that would merge Nasdaq-listed Sonnet BioTherapeutics Holdings Inc. with special purpose acquisition...