Nasdaq-listed Sonnet BioTherapeutics has reached a business combination agreement with Rorschach I LLC worth approximately $888.00 million to jointly create Hyperliquid Strategies Inc (HSI), which will become the largest publicly traded company in the United States holding HYPE. The transaction includes approximately $583.00 million worth of HYPE tokens (a total of 12.60 million tokens) and $305.00 million in cash. [Foresight News]