According to the latest filing, Sonnet Biotherapeutics, a US-listed company, has postponed the merger vote until December 2.
Previously, on July 14, Sonnet BioTherapeutics agreed to a $888 million merger transaction, which will be renamed Hyperliquid Strategies and launch a HYPE treasury strategy.
Nasdaq-listed Sonnet BioTherapeutics has agreed to merge with Rorschach I LLC to form Hyperliquid Strategies and launch a capital pool strategy. Rorschach I LLC is a newly formed company formed by Atlas Merchant Capital LLC affiliated entities, Paradigm Operations LP affiliates and other sponsors, according to a press release issued Monday.
Upon completion of the transaction, the new entity will be renamed Hyperliquid Strategies and is expected to hold 12.60 million HYPE tokens and $305 million in cash, with a total valuation of approximately $888 million.
Listed company Sonnet has postponed merger vote until December 2
2025-11-18 22:57:39
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