Hyperliquid to Raise Up to $1 Billion via Public Offering

Hyperliquid Strategies is planning a significant public offering, aiming to raise up to $1 billion. The company filed an S-1 document with the SEC on Wednesday, which outlines plans for selling up to 160 million common shares. Chardan Capital Markets will provide financial advisory services during this process. This strategic move comes as Hyperliquid is set to merge with Nasdaq-listed biotech firm Sonnet BioTherapeutics and special purpose acquisition company Rorschach I LLC. The merger, expected to conclude by the end of 2025, will create a crypto treasury company focused on the Hyperliquid ecosystem.