According to its official SEC filing, Hyperliquid Strategies Inc. aims to raise up to $1 billion via a U.S. IPO, with proceeds intended for acquiring and staking HYPE tokens to strengthen its treasury strategy. The company, formed through a merger with Sonnet BioTherapeutics and Rorschach I LLC, currently holds 12.6 million HYPE tokens and $305 million in cash. Chardan Capital Markets will serve as financial advisor for the offering. The staking initiative is designed to generate ongoing rewards and support the growth of the Hyperliquid ecosystem.