Hyperliquid Strategies Authorizes $30 Million Buyback After Recent SPAC Listing
The 12-month plan gives management flexibility to repurchase shares in pursuit of greater per-share exposure to HYPE.
Overview
- The board approved repurchases of up to $30 million of common stock under a program lasting up to 12 months.
- Purchases may occur in open-market trades or privately negotiated deals, with timing and size set at management’s discretion subject to market, economic and legal conditions.
- The company said the goal is to maximize shareholder value by increasing investors’ per-share exposure to HYPE, the native token of the Hyperliquid ecosystem.
- HSI cautioned there is no guarantee any shares will be bought and the program can be extended, suspended or discontinued without prior notice.
- Following the announcement days after its SPAC-driven Nasdaq debut, PURR shares saw brief volatility before settling near $3.67 and closing slightly lower, according to CoinCentral.