Hyperliquid Strategies Files to Raise $1B as Bob Diamond Prepares Nasdaq Debut

Hyperliquid Strategies files S-1 to raise $1B through 160M-share offering led by Bob Diamond.

The firm holds 12.6M HYPE tokens and $305M cash, planning to expand its crypto treasury via staking.

Merger with Sonnet BioTherapeutics and Rorschach I aims for Nasdaq listing focused on DeFi growth.

Hyperliquid Strategies, a pending merger entity formed by Sonnet BioTherapeutics and Rorschach I LLC, has filed an S-1 registration statement with the U.S. Securities and Exchange Commission. The company aims to raise up to $1 billion through a public offering, linking traditional markets with blockchain-based finance through its Hyperliquid ecosystem treasury initiative.

Hyperliquid Strategies Files S-1 to Raise $1 Billion

The company’s Wednesday filing outlines plans to issue up to 160 million shares of common stock. Chardan Capital Markets has been appointed as the financial advisor for the offering. According to the filing, the proceeds will support corporate operations, token purchases, and the expansion of its digital asset treasury.

Hyperliquid Strategies was established through an ongoing merger between Nasdaq-listed biotech firm Sonnet BioTherapeutics and special-purpose acquisition company Rorschach I LLC. The merger, expected to close later this year, will result in a newly listed entity on Nasdaq under an undisclosed ticker.

Leadership will include former Barclays CEO Bob Diamond as Chairman and David Schamis as Chief Executive Officer. The company’s structure aims to bridge traditional capital markets with decentralized asset management.

Focus on HYPE Token and Treasury Expansion

The filing revealed that Hyperliquid Strategies currently holds 12.6 million HYPE tokens and $305 million in cash reserves. The firm plans to use part of the offering proceeds to acquire additional HYPE tokens and increase its exposure to the Hyperliquid ecosystem. “The company aims to deploy its HYPE token holdings selectively, primarily through staking substantially all of its HYPE holdings,” the filing stated

Hyperliquid Strategies expects staking activities to provide a recurring source of rewards while maintaining flexibility to engage in other DeFi-related opportunities following internal assessments. Hyperliquid, the decentralized perpetual futures exchange powering this ecosystem, has processed over $1.5 trillion in total trading volume since 2023

Its native HYPE token, launched last year, has shown strong market performance. In the past 24 hours, HYPE gained nearly 7%, outperforming the broader crypto market, which saw a minor decline. Analysts attribute this resilience to network upgrades, new institutional products, and growing confidence in Hyperliquid’s long-term fundamentals.

The post Hyperliquid Strategies Files to Raise $1B as Bob Diamond Prepares Nasdaq Debut appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.