US-based biotechnology company Sonnet BioTherapeutics is making headlines not only with its health technologies but also with its crypto strategies. The Nasdaq-listed company has made a splash in the crypto markets with a major merger.
💥 HYPE at the Heart of the Transformation!
Sonnet BioTherapeutics will merge with Rorschach I LLC, backed by Atlas Merchant Capital, and change its name to Hyperliquid Strategies, Inc. At the heart of the new structure is HYPE, the cryptocurrency token that has been making headlines lately.
Following the merger, the company will hold:
12.6 million #hype tokens
$305 million in cash
The total valuation of the resulting company following this massive merger will be approximately $888 million.
The new company will continue to trade on Nasdaq under a new ticker symbol and will implement a crypto treasury management model strategically designed around the $HYPE token.
From Biotech to Crypto Strategy
Sonnet BioTherapeutics, which will continue to operate in the biotechnology sector, will operate as a subsidiary of Hyperliquid Strategies after the merger. Shareholders of the company, which will maintain its existing pharmaceutical research and health technology businesses, will also receive contingent rights (CVR) from future biotech revenues.
Strategic Giants Are in the Game!
The names supporting this merger are among the crypto world's most powerful investors:
Paradigm
Galaxy Digital
Pantera Capital
D1 Capital
Republic Digital
683 Capital
Furthermore, Atlas founder Bob Diamond will be the chairman of #Hyperliquid Strategies, while David Schamis will serve as CEO. This means not only capital but also management power is at a premium.
📊 Hyperliquid Protocol: A Revolution in Numbers
The Hyperliquid protocol has exploded in the last year:
Over $1.5 trillion in trading volume
Record $11.3 billion in open interest
In the words of Paradigm co-founder Matt Huang:
“Hyperliquid is a strong opportunity for institutional investors, based on real fundamentals. Demand for the HYPE token, which is particularly restricted to US-based investors, is growing rapidly.”
📈 Stock Market Reaction: 300% Shock!
News of the merger sparked a 300% surge in Sonnet BioTherapeutics shares in pre-market trading on Monday. The company's market capitalization rose to over $16 million. In other words, investors took action as soon as the news was announced.
💡 What Does This Mean?
The entry of traditional biotechnology companies into the crypto world demonstrates the rapid pace of industry transformation.
Hyperliquid and the HYPE token have become the immediate focus of institutional investors.
This step demonstrates that US-based companies have officially integrated crypto into their core strategies.
📌 Conclusion
This merger combines not only two companies but also two distinct sectors: healthcare technologies and blockchain-based financial systems. Hyperliquid Strategies, a Nasdaq-listed company and bolstered by the backing of major investment funds, is poised to become one of the most talked-about entities of the coming period.
The future of crypto is being shaped not only in Web3 projects; it's now also being shaped in the coffers of companies emerging from bionic labs!
