---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-391090"
form_type: "8-K"
ticker: "PURR"
cik: "0002078856"
company_name: "Hyperliquid Strategies Inc"
filed_at: "2026-09-15T01:39:35+00:00"
generated_at: "2026-09-15T10:11:09.060694+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "medium"
source: SEC EDGAR
---

# Hyperliquid Strategies amends ChEF purchase agreement, raising discount on future share sales after 160M shares

## Summary
- Amendment No. 3 to ChEF equity purchase agreement with Chardan Capital Markets sets VWAP purchase price at 98.5% of VWAP for VWAP/Intraday purchases after first 160M shares sold.
- Off-Hour VWAP purchases priced at 97.0% of VWAP after the 160M-share threshold; subject to adjustments for block trades and corporate actions.
- Amendment No. 3 supersedes and replaces Amendment No. 2 (also dated Sept 14, 2026); Amendment No. 1 (Sept 1, 2026) remains effective.
- Original agreement dated Oct 22, 2025; prior amendments on Sept 1 and Sept 14, 2026; change likely increases future dilution for the company.

## SEC filing metadata
- accession: 0001193125-26-391090
- form_type: 8-K
- ticker: PURR
- cik: 0002078856
- company_name: Hyperliquid Strategies Inc
- filed_at: 2026-09-15T01:39:35+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: medium
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2078856/000119312526391090/0001193125-26-391090-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2078856/000119312526391090/purr-20260914.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-391090
- JSON: https://secwatch.observer/filing/0001193125-26-391090.json
- Plain text: https://secwatch.observer/filing/0001193125-26-391090.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.