Crypto Firm Files to Raise $1 Billion for HYPE Treasury
The post Crypto Firm Files to Raise $1 Billion for HYPE Treasury appeared on BitcoinEthereumNews.com.
Hyperliquid Strategies has filed a Form S-1 registration statement with the US Securities and Exchange Commission (SEC) seeking to raise up to $1 billion. The firm is looking to expand its Hyperliquid (HYPE) token treasury amid growing institutional demand. The move highlights a shift among public companies, which now increasingly prioritize crypto treasury assets and protocol participation in their strategies. Sponsored Public Companies and the HYPE Treasury Play For context, Hyperliquid Strategies was established as part of a proposed merger between Nasdaq-listed Sonnet BioTherapeutics Holdings Inc. and Rorschach I LLC, a special purpose acquisition company (SPAC). The combined entity aims to build a digital-asset treasury focused on the HYPE token. The merger remains pending but is anticipated to be finalized before the end of the year. Moreover, the company has applied to list its shares on the Nasdaq under a new ticker. “There is presently no public market for our Common Stock. We have applied to have our Common Stock listed on the Nasdaq Capital Market under the symbol ‘PURR.’ No assurance can be given that our application will be approved,” the S-1 reads Under its newly filed registration statement, the firm intends to offer up to 160 million shares of common stock, potentially raising up to $1 billion through a committed equity facility with Chardan Capital Markets LLC. Hyperliquid Strategies plans to use potential proceeds for general corporate purposes, including possible purchases of the HYPE token. The firm already holds approximately 12.6 million HYPE. “We intend to use any net proceeds from any sales of shares of our Common Stock to Chardan under the Facility for general corporate purposes, including potential purchases of HYPE Tokens, following the consummation of the Business Combination,” the firm noted. Sponsored Now, Hyperliquid Strategies joins firms like Eyenovia and Lion Group Holding, which have…
