Sonnet Adjourns Merger Vote for Hyperliquid Venture Amid Strong Shareholder Support
Sonnet BioTherapeutics has delayed its special shareholder meeting to December 2, 2025, allowing additional time for investors to vote on a proposed merger with Hyperliquid Strategies Inc. and Rorschach I LLC. The deal would create a $1 billion digital asset treasury firm centered on Hyperliquid's native token, HYPE.
Despite over 95% of submitted votes favoring the merger, approval remains pending as the transaction requires a majority of all outstanding shares. The adjournment aims to boost participation, with Sonnet's Board of Directors unanimously endorsing the MOVE and urging shareholders to review proxy materials.
Hyperliquid CEO David Schamis characterized the delay as procedural, noting strong existing support. Market momentum for HYPE continues building, with rising demand reflecting growing confidence in the token's underlying infrastructure.
