Hyperliquid Strategies completes business combination with Sonnet BioTherapeutics

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Go back to Hyperliquid Strategies completes business combination with Sonnet BioTherapeutics

Hyperliquid Strategies Inc and Sonnet BioTherapeutics Holdings, Inc. Announce Closing of Business Combination

December 2, 2025 4:30 PM EST

Hyperliquid Strategies Common Stock Expected to Begin Trading on Nasdaq on Wednesday, December 3 Under the Ticker PURR

NEW YORK and PRINCETON, N.J., Dec. 02, 2025 (GLOBE NEWSWIRE) -- Hyperliquid Strategies Inc (HSI or the Company) and Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) (Sonnet) today announced the completion of the closing of the previously announced business combination among HSI, Sonnet and Rorschach I LLC (Rorschach), a newly-formed entity formed by an entity affiliated with Atlas Merchant Capital LLC (Atlas), an affiliate of Paradigm Operations LP (Paradigm), and additional sponsors (all together, the Sponsors), which was approved by Sonnets... More