TechFlow, June 26 — According to Prnewswire, Lion Group Holding Ltd. (Nasdaq: LGHL) today announced the completion of its first acquisition of Hyperliquid (HYPE) tokens, purchasing $2 million worth of tokens at an average price of approximately $37.30 per token. This marks the official launch of the company's previously announced $600 million convertible debt financing plan, with the first tranche of $11 million already completed.
LGHL plans to allocate the majority of funds toward expanding its token reserves, including further purchases of HYPE, Solana (SOL), and Sui (SUI). Under the agreement, at least 75% of the net proceeds from each subsequent financing round will be used for token acquisitions, while the remainder will support cryptocurrency operations and on-chain initiatives.
Wilson Wang, CEO of LGHL, stated that this acquisition represents the first step in the company's commitment to building a "next-generation Layer-1 token reserve," viewing HYPE as a foundational asset in decentralized finance.
