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Hyperliquid Strategies Inc and Sonnet BioTherapeutics Holdings, Inc. Announce Closing of Business Combination

Hyperliquid Strategies Inc (PURR) | December 2, 2025

By Sam Nelson

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Hyperliquid Strategies Inc and Sonnet BioTherapeutics Holdings, Inc. have successfully completed the business combination.

Hyperliquid Strategies Inc's common stock will start trading on Nasdaq under the ticker symbol 'PURR'.

Sonnet BioTherapeutics Holdings, Inc. will continue as a wholly-owned subsidiary of Hyperliquid Strategies Inc.

Leadership Changes

David Schamis appointed as CEO of Hyperliquid Strategies Inc.

Stock Exchange Update

HSI's common stock to trade on Nasdaq under the ticker symbol 'PURR' starting December 3.

Board of Directors

The Company's board includes prominent industry figures like Bob Diamond and Jeff Tuder.

Digital Asset Strategy

HSI aims to provide capital-efficient access to the HYPE token for investors.

  • Hyperliquid Strategies Inc now operates as a digital asset treasury reserve company.
  • Investors can gain exposure to the HYPE token through HSI's digital asset strategy on Nasdaq.
  • David Schamis highlights the success of Hyperliquid's blockchain and decentralized exchange.

The completion of the business combination marks a significant milestone for both companies, providing US investors with direct access to the Hyperliquid ecosystem.