Hyperliquid Completes Merger with Sonnet, Stock to Trade on Nasdaq
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2025
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Source: Newsfilter
- Merger Completion: Hyperliquid Strategies Inc has completed its merger with Sonnet BioTherapeutics, with Sonnet shareholders' shares adjusted at a 5-for-1 ratio, marking the company's entry into the digital asset space and expected to enhance market competitiveness.
- New Ticker Symbol: Following the merger, Hyperliquid's common stock will begin trading on Nasdaq under the ticker PURR on December 3, while Sonnet's stock will cease trading, reflecting the company's strategic positioning in the capital markets.
- Leadership Team: The new company will be led by CEO David Schamis, with board members including Bob Diamond, ensuring a wealth of experience in financial services that will aid in driving future growth.
- Market Opportunity: Hyperliquid's decentralized trading platform has become a market leader in perpetual futures and spot trading, processing billions in daily trading volume, providing investors with a direct opportunity to engage with this emerging network.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
