India, July 14 -- Sonnet BioTherapeutics Holdings, Inc. (SONN), Monday announced an agreement with Rorschach I LLC to transform its business by building a reserve of HYPE, the token of the Hyperliquid Layer-1 blockchain.
The new entity, expected to be named Hyperliquid Strategies Inc, will hold approximately 12.6 million HYPE tokens, representing $583 million in value and gross cash invested of atleast $305 million, for a total assumed closing value of $888 million.
The deal is expected to boost crypto treasury management strategy as well as enhance crypto and financial services, delivering strong value to the shareholders.
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Upon completion of the agreem...