Hyperliquid Moves to Secure $1B for HYPE Treasury Purchases

Hyperliquid Strategies Files to Raise $1B for HYPE Treasury Expansion

Hyperliquid Strategies, a digital asset treasury company in formation, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission, aiming to raise $1 billion to fund corporate operations and expand its holdings of HYPE tokens.

The company is being created through a merger of Nasdaq-listed Sonnet BioTherapeutics and the special purpose acquisition company Rorschach I LLC, with a focus on building and managing the Hyperliquid ecosystem.

The filing indicates that Hyperliquid plans to issue up to 160 million shares of common stock, with Chardan Capital Markets acting as financial advisor. Proceeds will primarily be used to grow the company’s HYPE treasury, which currently holds 12.6 million tokens and $305 million in cash.

Hyperliquid intends to deploy its HYPE holdings selectively, mainly through staking, which is expected to generate ongoing rewards while enhancing shareholder value as the company scales in the decentralized finance (DeFi) sector.