PANews reported on December 2 that, according to market sources, Nasdaq-listed biotechnology company Sonnet BioTherapeutics has received shareholder approval for a business merger with Hyperliquid Strategies, Inc.

Previously, it was reported that the publicly traded company Sonnet planned to change its name to Hyperliquid Strategies through a merger transaction, and was expected to hold 12.6 million HYPE tokens and $300 million in cash.