Hyperliquid Strategies Files to Raise $1B to Expand HYPE Treasury
Hyperliquid Strategies, a new digital asset treasury company, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission, signaling plans to raise $1 billion for general corporate purposes, including acquiring additional HYPE tokens.
The firm is being formed through a merger between Nasdaq-listed Sonnet BioTherapeutics and the special purpose acquisition company Rorschach I LLC, with a focus on developing and managing the Hyperliquid ecosystem.
According to the filing, Hyperliquid intends to issue up to 160 million shares of common stock, with Chardan Capital Markets serving as financial advisor. The raised funds will primarily be used to grow the company’s HYPE treasury, which currently holds 12.6 million tokens and $305 million in cash.
The company also plans to deploy its HYPE holdings strategically, mainly through staking, which is expected to generate ongoing rewards and enhance shareholder value as operations scale within the decentralized finance (DeFi) space.
