- Nasdaq-listed Lion Group Holding purchased $2 million in HYPE tokens after closing the first tranche of its $600 million facility.
- LGHL plans to increase its treasury holdings with HYPE, Solana (SOL), and Sui (SUI) tokens to support its layer-1 treasury strategy.
- At least 75% of net proceeds from future closings will fund crypto asset purchases, enhancing LGHL’s treasury reserve and crypto operations.
Lion Group Holding Ltd. (Nasdaq: LGHL) announced its initial acquisition of Hyperliquid (HYPE) tokens, purchasing $2 million worth as part of its treasury strategy. This move follows the first closing of its $600 million convertible debenture facility.
Strategic Token Acquisition and Treasury Initiative
The company acquired HYPE tokens at an average price near $37.30 per token, marking the first strategic purchase under its treasury plan. According to a tweet from Cointelegraph, this purchase aligns with LGHL’s goal to build a next-generation layer-1 treasury.
Wilson Wang, CEO of LGHL, described the significance of HYPE for the company’s vision, stating, “HYPE represents a foundational execution-first asset in decentralized finance. We view it as core infrastructure in the evolution of capital markets and intend to participate deeply in its ecosystem.” The company plans to continue acquiring HYPE, along with Solana (SOL) and Sui (SUI) tokens.
Funding Through Convertible Debenture Facility
The recent purchase follows the first closing of $11 million in principal amount under the $600 million convertible debenture facility. LGHL intends to use a significant portion of net proceeds from this closing to expand its treasury holdings.
The terms of the facility specify that at least 75% of net proceeds from each closing will be allocated toward token acquisitions. The remainder will support broader crypto operations, on-chain projects, and working capital. This approach signals a disciplined allocation of resources toward building a robust treasury reserve.
Ongoing Treasury Expansion and Updates
Lion Group Holding commits to providing regular updates on the expansion of its treasury reserve. The company’s strategy involves continued token purchases, emphasizing HYPE, SOL, and SUI to enhance its crypto asset portfolio.
LGHL’s focused treasury growth supports its objective of strengthening its position in the decentralized finance sector. The company remains dedicated to executing its treasury plan while maintaining transparency with investors and stakeholders.
