Sonnet BioTherapeutics stockholders approve business combination

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) announced that its stockholders approved the proposed business combination with Hyperliquid Strategies Inc and Rorschach I LLC at a special meeting of stockholders.

The Princeton, New Jersey-based oncology-focused biotechnology company stated that final voting results for the special meeting will be filed in a Form 8-K with the U.S. Securities and Exchange Commission.

Sonnet operates a proprietary platform called FHAB (Fully Human Albumin Binding) for developing biologic drugs. The technology uses a fully human single chain antibody fragment that binds to human serum albumin for transport to target tissues, specifically designed to target tumor and lymphatic tissue.

In connection with the proposed business combination, HSI filed a registration statement on Form S-4 that became effective on October 27, 2025. The registration statement contains a proxy statement for Sonnet's stockholders that also serves as a prospectus for HSI. HSI's securities are expected to be listed on Nasdaq upon completion of the business combination.

Sonnet mailed a definitive proxy statement/prospectus to stockholders on October 27, 2025. The company's FHAB platform serves as a foundation for developing various therapeutic classes including cytokines, peptides, antibodies, and vaccines.

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