Are XRP, SOL Done? HYPE Pumps 10% On $1 Billion Treasury Raise
Hyperliquid (CRYPTO: HYPE) jumped 10% to $39.70 on Thursday after Hyperliquid Strategies Inc. filed a Form S-1 with the SEC, seeking to raise up to $1 billion through a 160 million-share public offering that could also fund token purchases linked to its cryptocurrency strategy.
IPO Filing Highlights Direct Link To Crypto Strategy
According to the SEC filing, the company plans to use a portion of the proceeds to acquire HYPE tokens, directly connecting its equity raise to the digital asset ecosystem it operates in.
The New York-based firm, a merger between Sonnet BioTherapeutics Holdings Inc. (NASDAQ:SONN) and Rorschach I LLC led by CEO David Schamis, listed general corporate purposes and token purchases among the primary uses of capital.
The proposed raise would value the deal among the largest digital-finance offerings this year.
Technical Setup Shows Bullish …
About The Author
