Nasdaq-listed Hyperliquid Strategies has increased its equity financing limit from $1 billion to $2.5 billion to fund additional HYPE token purchases. The company has already raised $646.6 million through the facility by issuing shares at an average price of $8.70 and used the proceeds to buy about 16.5 million HYPE at an average price of $46.77. The amended agreement adds issuance restrictions tied to the stock price. After cumulative share sales reach $1 billion, if the stock trades below $12.02, further issuance will be capped at 42,641,847 shares, equal to 19.99% of outstanding shares before the amendment, to comply with Nasdaq shareholder approval rules. As of June 30, Hyperliquid Strategies reported total assets of about $2.06 billion, including roughly $1.904 billion in HYPE holdings. Its HYPE position increased from 12.5 million tokens to 29.3 million tokens during the fiscal year.