In Brief
- Hyperliquid Strategies to repurchase up to $30M of its stock over 12 months.
- The buyback aims to increase shareholders’ exposure to the HYPE token ecosystem.
- The move follows Hyperliquid’s recent Nasdaq listing and completed SPAC merger.
Hyperliquid Strategies Inc. (NASDAQ: PURR) has announced a stock buyback program worth up to $30 million over 12 months. The initiative allows repurchases through open market transactions, private deals, or other methods compliant with federal securities laws.
The company stated that actual repurchase timing and quantity will depend on market conditions and internal decisions. The program may be extended, paused, or canceled at the company’s discretion without prior notice.
Hyperliquid Strategies aims to boost per-share exposure to HYPE, the native token of the Hyperliquid ecosystem. The company continues focusing on maximizing shareholder value through active treasury management.
Program Follows Strategic Merger and Public Market Debut
The buyback plan comes shortly after the company’s merger between Sonnet BioTherapeutics and SPAC Rorschach was finalized on December 2. Shares of PURR began trading on Nasdaq on December 3, and the stock currently trades near $3.64.
Hyperliquid Strategies is one of the largest holders of the HYPE token, valued near $29 as of the latest data. The company previously committed to deploying its HYPE holdings into staking and DeFi strategies to support long-term performance.
The firm is supported by investors including D1 Capital, Galaxy Digital, and Pantera Capital, and chaired by former Barclays CEO Bob Diamond. It filed an S-1 to raise up to $1 billion to fund its digital asset treasury activities.
Unlike other crypto firms, Hyperliquid Strategies did not raise traditional venture funding. Instead, HYPE was airdropped to early users, with remaining supply allocated to founders and the Hyper Foundation.
The protocol behind HYPE is now the largest decentralized perpetuals DEX by volume. Competitors like Aster and Liquid have only recently begun to gain market share.
With the buyback initiative, Hyperliquid joins other digital asset treasuries in supporting its equity during market uncertainty. The company continues positioning itself as a key bridge between token exposure and U.S. capital markets.
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Source: https://coincu.com/hype/hyperliquid-strategies-launches-30m/
