Sonnet BioTherapeutics, Inc. Announces $888 Million Business Combination to Launch a HYPE Cryptocurrency Treasury Reserve Strategy
1. Sonnet is combining with Rorschach to create Hyperliquid Strategies Inc. 2. The new entity will manage $888 million in value including 12.6 million HYPE tokens. 3. Sonnet aims to leverage this partnership to enhance biotech asset funding. 4. The merger is subject to approval from Sonnet's stockholders and final closing conditions. 5. Sonnet will continue to focus on its biotech assets and develop SON-1010.