Sonnet postpones vote on Hyperliquid merger to establish $1 billion Hype-centric treasury firm

Sonnet BioTherapeutics has postponed its special meeting to secure more shareholder votes for the merging to create a $1 billion crypto treasury firm focused on HYPE. While 95% of votes favor the merger, the company still needs majority approval.

David Schamis, CEO of HSI, acknowledged the support from existing votes but emphasized the importance of reaching the approval threshold by December 2, 2025. The company’s shares have been approved for Nasdaq listing, indicating strong market interest.