Hyperliquid Strategies Raises $1 Billion for $HYPE Token Acquisition

In a significant move, Hyperliquid Strategies Inc. (HSI), a company formed through the merger of Sonnet BioTherapeutics, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to raise up to $1 billion through a public offering. The planned offering will see HSI sell 160 million shares, aiming to allocate a portion of these proceeds towards acquiring and staking $HYPE tokens. This strategic move aligns with HSI’s goal of increasing its exposure to digital assets while bolstering the Hyperliquid ecosystem.