Biotech firm Sonnet to form $888M HYPE treasury

New Public Company to Hold $583M in HYPE Tokens

The post New Public Company to Hold $583M in HYPE Tokens appeared on BitcoinEthereumNews.com. Hyperliquid Strategies to hold $888M in assets, including $583M in HYPE tokens. Merger makes HSI the largest U.S.-listed firm with direct HYPE exposure. Backed by Paradigm, Galaxy, and others to bridge crypto and equity markets. A new publicly traded company focused on crypto treasury management is set to emerge from a merger between the Nasdaq-listed S…

Sonnet BioTherapeutics Agrees $888M Merger as It Launches Strategic HYPE Treasury

Quick take: The merger resulted in the formation of a new entity called Hyperliquid Strategies, which will focus on establishing a digital asset treasury centred on the HYPE token. The new entity will hold 12.6 million HYPE tokens (approximately $583 million in value) plus an additional $305 million in gross cash invested. Atlas Merchant Capital is an affiliate of Paradigm, an investment management firm focused on digital assets. Sonnet Biother…

New Nasdaq-Listed Company, Hyperliquid Strategies, to Hold $583M in HYPE Tokens

Hyperliquid Strategies to hold $888M in assets, including $583M in HYPE tokens. Merger makes HSI the largest U.S.-listed firm with direct HYPE exposure. Backed by Paradigm, Galaxy, and others to bridge crypto and equity markets. A new publicly traded company focused on crypto treasury management is set to emerge from a merger between the Nasdaq-listed Sonnet BioTherapeutics Holdings and Rorschach I LLC. The new, combined entity, named Hyperliqui…

Sonnet BioTherapeutics to merge with Rorschach I LLC in a $888 million deal

Nasdaq-listed biotech firm Sonnet BioTherapeutics announced Monday a $888 million merger agreement with Rorschach I LLC, an entity formed by crypto businesses. The merger will change Sonnet’s focus from biotechnology to crypto treasury management under Hyperliquid Strategies Inc. (HSI), which will hold Hyperliquid Layer-1 blockchain’s token HYPE. The agreement, known as the Business Combination Agreement (BCA), was formally approved by the board…

Nasdaq-listed Sonnet BioTherapeutics agrees to $888 million merger to become Hyperliquid Strategies, launch HYPE treasury

Nasdaq-listed Sonnet BioTherapeutics, Inc. has agreed to merge with Rorschach I LLC to become Hyperliquid Strategies, Inc. and launch a HYPE treasury …

Sonnet BioTherapeutics Spikes 153% on $888 Million Deal with Rorschach - Wall Street Pit

Sonnet BioTherapeutics (SONN) stock surged 153% to $13.08 after announcing a $888 million business combination with Rorschach I LLC, forming Hyperliquid Strategies Inc. (HSI), which will hold 12.6 million HYPE tokens valued at $583 million and $305 million in cash. HSI, set to list on Nasdaq under a new ticker,…