Hyperliquid Strategies Files to Raise $1B for HYPE Treasury Growth
Hyperliquid Strategies, a digital asset treasury company in formation, has submitted an S-1 registration with the U.S. Securities and Exchange Commission, signaling plans to raise $1 billion to fund corporate initiatives and expand its HYPE token holdings.
The company is being formed through a merger between Nasdaq-listed Sonnet BioTherapeutics and the special purpose acquisition company Rorschach I LLC, with a focus on the Hyperliquid ecosystem.
Hyperliquid plans to issue up to 160 million common shares, with Chardan Capital Markets serving as financial advisor. The proceeds will primarily strengthen the company’s HYPE treasury, which currently holds 12.6 million tokens and $305 million in cash.
The firm also intends to deploy its HYPE holdings strategically, largely through staking, expected to generate ongoing rewards and enhance shareholder value as operations scale in the decentralized finance (DeFi) sector.
