Post #11308

Sonnet BioTherapeutics merges with Hyperliquid Strategies Inc for potential $1B HYPE Treasury Back in July, Sonnet BioTherapeutics said it had agreed to merge with Rorschach I LLC —a newly formed company loosely connected to Hyperliquid-backer and prominent crypto VC Paradigm — as part of its plan to create a publicly-traded HYPE DAT called Hyperliquid Strategies, Inc. The DAT said at the time it expected to hold 12.6M HYPE tokens and $305M in cash, for a total estimated value of $888M. Then, in October, Hyperliquid Strategies filed an S-1 statement with the U.S. Securities and Exchange Commission for a public offering to raise up to $1B. 🔗theblock.co/post/381076/sonnet-shareholders-approve-merger-for-1-billion-hype-crypto-treasury Follow us to be on top of crypto: TG | Chat | X