Over 95% of cast votes back the deal, but company needs more shareholders to meet approval threshold.
Key Takeaways
- Sonnet BioTherapeutics has adjourned its special meeting to allow more time to secure shareholder votes for its proposed merger with Hyperliquid Strategies and Rorschach I LLC.
- While over 95% of votes cast favor the deal, the company has not yet reached the required majority of all outstanding shares.
Sonnet BioTherapeutics has adjourned its special shareholder meeting on the proposed merger to form a $1 billion crypto treasury firm focused on Hyperliquid’s native token, HYPE.
The postponed business combination would merge Sonnet with Hyperliquid Strategies Inc. and