TLDR Hyperliquid Strategies (PURR) rolled out a $30 million stock repurchase program within days of going public on Nasdaq The 12-month buyback plan aims to boost per-share HYPE token exposure for investors PURR resulted from a Sonnet BioTherapeutics and Rorschach SPAC merger that closed December 2 The company filed to raise $1 billion in October [...] The post Hyperliquid Strategies (PURR) Stock: HYPE Treasury Rolls Out $30M Buyback Program appeared first on Blockonomi.TLDR Hyperliquid Strategies (PURR) rolled out a $30 million stock repurchase program within days of going public on Nasdaq The 12-month buyback plan aims to boost per-share HYPE token exposure for investors PURR resulted from a Sonnet BioTherapeutics and Rorschach SPAC merger that closed December 2 The company filed to raise $1 billion in October [...] The post Hyperliquid Strategies (PURR) Stock: HYPE Treasury Rolls Out $30M Buyback Program appeared first on Blockonomi.

Hyperliquid Strategies (PURR) Stock: HYPE Treasury Rolls Out $30M Buyback Program

TLDR

  • Hyperliquid Strategies (PURR) rolled out a $30 million stock repurchase program within days of going public on Nasdaq
  • The 12-month buyback plan aims to boost per-share HYPE token exposure for investors
  • PURR resulted from a Sonnet BioTherapeutics and Rorschach SPAC merger that closed December 2
  • The company filed to raise $1 billion in October to build its HYPE treasury holdings
  • Shares opened at $3.64 on December 3, down 1.1% as of Monday’s trading

Hyperliquid Strategies wasted no time supporting its share price. The HYPE token treasury company green-lit a $30 million stock buyback program on Monday, just days after beginning public trading.


PURR Stock Card
Hyperliquid Strategies Inc Common Stock, PURR

The board authorized repurchases up to $30 million over the next year. CEO David Schamis framed the move as a commitment to shareholder value through strategic treasury operations.

The timing stands out in the digital asset treasury space. Most companies wait months or years before launching buyback initiatives. Hyperliquid Strategies implemented its program within days of going live.

Quick Path to Public Markets

Hyperliquid Strategies emerged from a merger between Sonnet BioTherapeutics and Rorschach. Sonnet operated as a healthcare tech company while Rorschach functioned as a SPAC linked to crypto investor Paradigm.

The deal faced delays after failing to secure enough shareholder votes in November. The merger finally closed on December 2, roughly two weeks late.

PURR shares started trading on Nasdaq December 3 at $3.64. The stock dipped 1.1% by Monday’s close.

The company filed an S-1 with the SEC in October seeking to raise up to $1 billion. Those funds will fuel HYPE token purchases for the treasury. Management plans to stake most holdings or deploy capital in yield-generating DeFi strategies.

Backing and Market Position

D1 Capital, Galaxy Digital, Pantera Capital, Republic Digital, and 683 Capital serve as strategic backers. Former Barclays CEO Bob Diamond chairs the company.

Hyperliquid took an unusual path to market. The protocol skipped venture capital funding entirely. Instead, one-third of the HYPE supply went to early users through airdrops in late 2023.

That distribution carried a $1.2 billion valuation. The rest went to team members and the Hyper Foundation. No tokens were set aside for traditional investors.

The protocol now dominates as the largest decentralized perpetual contracts exchange by trading volume. Recent competition arrived from Aster on BNB Chain and Liquid on Ethereum Layer 2.

Alternative Exposure Options

Hong Kong brokerage Lion Group Holding raised $600 million in June for another HYPE treasury play. This gives investors a second publicly traded option for token exposure.

HYPE traded around $29 on Monday. The token hit $59.30 in September before pulling back.

Hyperliquid Strategies joins other digital asset treasuries implementing shareholder support measures. BitMine and Strategy both launched buyback programs or cash reserves during recent market volatility.

The stock repurchase program runs through December 2025. Management will determine timing and amounts based on market conditions and capital allocation priorities.

The post Hyperliquid Strategies (PURR) Stock: HYPE Treasury Rolls Out $30M Buyback Program appeared first on Blockonomi.

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