Nasdaq-listed Hyperliquid Strategies raised $647 million in equity capital and more than doubled its HYPE treasury to 29.3 million tokens, worth roughly $1.9 billion at fiscal year-end. The firm, which trades as PURR, holds no debt and $149.9 million in cash.
Treasury doubles as capital raise closes
Hyperliquid Strategies reported first-half fiscal earnings Thursday morning, raising $647 million in equity capital. The firm more than doubled its HYPE treasury to 29.3 million tokens, valued at roughly $1.9 billion at the end of its fiscal year ended June 30.
The company, which trades under the ticker PURR, maintains $149.9 million in cash and no debt. Since then, the company said it has deployed $773.4 million to acquire about 16.5 million additional HYPE at an average cost of $46.77 and spent $27.8 million repurchasing PURR shares, leaving $132.6 million in cash as of Aug. 19.
CEO highlights a strong balance sheet
CEO David Schamis said the company finished with what he called a "fortress balance sheet", according to a press release citing meaningful cash, no debt, and substantially all of its tokens staked and earning. The firm reported $709.9 million in net unrealized gains on HYPE tokens, offset by a one-time loss on HYPE tokens contributed after the business combination of $169.2 million.
PURR shares jump, HYPE extends its rally
PURR shares surged nearly 18% in Thursday's session, trading around $13.59 at publication time. The company has a market cap of about $1.8 billion and has reached its highest mNAV since May, sitting at around 1.35x.
The HYPE token, meanwhile, rose 77% during the quarter ended June 30 and is up more than 50% over the past month alone, according to The Block's HYPE price data. The platform and its token received a boost during a recent press conference from President Donald Trump on Aug. 19.
Source: The Block
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