Sonnet BioTherapeutics Shareholders Approve Merger with Hyperliquid Strategies
The approved merger will create the first digital asset treasury focused on the HYPE token, integrating biotech and blockchain investment strategies.
HYPE
Summary
Sonnet BioTherapeutics shareholders have approved a merger with Hyperliquid Strategies and Rorschach I LLC, paving the way for the creation of the first digital asset treasury dedicated to the HYPE token. According to the official announcement, Hyperliquid Strategies securities will be listed on Nasdaq. The merged entity plans to expand its initial holdings of 12.6 million HYPE tokens and $300 million in cash by raising up to $1 billion for additional HYPE token acquisitions.
Terms & Concepts
- HYPE tokens: A cryptocurrency issued by Hyperliquid Strategies, representing digital assets on its blockchain platform.