Sonnet delays vote on Hyperliquid merger to launch $1B HYPE-focused treasury firm
Sonnet BioTherapeutics postponed its merger vote with Hyperliquid Strategies to secure the necessary majority of outstanding shareholder votes.Summary
Sonnet BioTherapeutics has adjourned its special shareholder meeting regarding the proposed merger with Hyperliquid Strategies Inc. and Rorschach I LLC, which aims to create a $1 billion digital asset treasury firm focused on accumulating and staking Hyperliquid's native token, HYPE. Although over 95% of the votes cast support the deal, the company has not yet achieved the required majority approval from all outstanding shares. The Board of Directors unanimously supports the merger and has urged shareholders to vote affirmatively. The meeting is rescheduled to reconvene on December 2, 2025. David Schamis, CEO of HSI, confirmed the strong support among voters and noted that HSI shares have been approved for Nasdaq listing, underscoring the long-term potential of the Hyperliquid blockchain.
(Source：Crypto Briefing)