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Bonnet BioTherapeutics and Rorschach I LLC merged to form Hyperliquid Strategies
Golden Finance reports that Nasdaq-listed Sonnet BioTherapeutics, Inc. has agreed to merge with Rorschach I LLC to form Hyperliquid Strategies, Inc. This company will launch the HYPE reserve strategy, and post-transaction, the new entity is expected to hold 12.6 million HYPE tokens and $305 million in cash, with a total valuation of $888 million.